GoFaxer Blog

Believe it or not, there are going to be some new small businesses starting during this year, a time of economic slowdown, that are going to do very well.

An article at BusinessWeek.com by Jeremy Quittner says:

“An economic downturn can be a great time to start a company. Competitors may go out of business, and the cost of labor may fall as more people are laid off and look for work. Commercial rents may decline, allowing you to score office space at a discount, and marketing and advertising expenses also tend to slide.”

Quite simply, during recessions, it becomes a buyers market. For new small businesses with a lot of new purchases, a bad economy can be a perfect house warming gift.

Businesses that survive their upstart during a slow economic time create a solid foundation to build their business on, a foundation which will be enormously profitable as the economy rebounds in their second and third year of doing business.

These companies aren’t going to waste their money on old technologies. They’ll be able to start clean with new and efficient technologies like email fax, better software, and other state of the art systems that many of their competitors haven’t gotten around to implementing.

At the end of the day, if your business idea is solid, if you’ve got great go-getters working for you, if you’ve got a good new business concept, you’ll be able to survive in good and bad times.