Starting a new business good or bad

even at a time when the economy isn't doing well a good business idea can still work. and in times of economic downturn some businesses actually do better, there is a company in the UK called poundland that is growing very fast and opening more shops, because more people are going there. instead of their more expensive competitors. you just have to think hard about what the situation is locally, how much competition you have, whether the people you are targetting your business at can afford to buy what you are selling. but businesses that meet a demand, and are well run can still make money in bad economic times.

I think that you can start a business as long as you have to money to afford it and can manage your money well.

Starting your own business can be tricky. First you need a solid business plan. You also need savings to put towards this business and people willing to invest in it. You will need the money to buy cars to have for sale before you even open the doors to your dealership. In short, you will need a huge pile of savings and a huge loan. So I hope your business plan is air tight.

Hi beckyomg! Well if you have the experience and you have a product that people want then I think it's a great idea to start your own business. I myself have some ideas for a business in my city that was popular in the city where I grew up. The problem is I have absolutely no experience and then there's the legal stuff and the investment risk. If I had your experience it would be easier for me to take a risk.

I cannot tell whether its good or bad because the success of one business depends on your strategy, experience, and the capital. If you haven't establish your business yet. Let me give you some clues when to continue or stop the business. -When your income doesn't reach your target capital. Stop the operation. -When your income exceeds your target capital. That's what we called profit. Continue the operation. -When your income have break even with your capital then you can decide to continue or stop the operation.

I think that starting your own business when you have the sources and experience is something worth the try. It is better to be your own boss and take your own risks than just be an employee. If you already did it before then I don't see any reason why you can't do it again better this time. Good luck and I advice you go for it.