Is It Smart To Open A Business During A Recession?
Can you feel inflation eating away at your income? Are you worried matters will only get worse as the nation dives deeper into recession? Perhaps you’re eying that favorite hobby of yours, wondering if you can tweak it a bit to bring in some much-needed revenue.
What’s holding you back?
If you’ve spent the bulk of your career working for someone else, it’s only natural to wonder if starting a business right now is worth it. You can be on the cusp of retirement or even in retirement. Sure, you enjoy helping people, but wouldn’t it be easier just to give it away for free and cut back on other expenses?
Well, no matter what your age, a healthy challenge can invigorate the soul.
“Starting a business can be an exciting responsibility to take on for many people,” says Nick Chandi, CEO and Co-Founder of ForwardAI in Vancouver, British Columbia. “It’s also a great opportunity to turn your weekend hobby into a cash-generating activity. Starting a business with inflation and a looming recession could mean an additional cash flow stream that helps people stay financially prepared for the economy.” Read more on Forbes.com.
