MythBusters: Why starting a Business in a Recession is a GOOD idea!

Mar 28, 2020

We are inspired by the measures taken in the community to support one another, and we are grateful to those who are following public health recommendations to keep our communities, families and friends safe and well.   

We want to do our part to support and serve those confined to their homes. If you are one of the 52% of Canadians considering starting a home-based business* and unsure of the steps to take, we will provide you with the training, tools and direction while you are self-isolating.  

To help ease the financial burden we are offering our full self-employment training program for $297 (reg. $997!) until April 30, 2020 with the option to pay in full or in two payments. 

 

MythBusters:  Why starting a business in a recession is a GOOD idea! 

 

Myth # 1 - Now is not the best time when the economy is going into a recession.

Truth

A recession is a good time to start a business when interest rates are lower, suppliers are hungry and willing to offer more and there is less competition. Planning your business now will prepare you for when the world rights itself again and we go back to living outside.

Smart business owners are spending this isolation time to work ON their business instead of IN it.

 

Myth # 2 – It's too expensive to start a business, and I need to be smart with my cash right now.

Truth

It depends on the business. Home based businesses are not only inexpensive to setup, there are several tax benefits to having your business in your home. 

At the end of the day, the only things you need to start making money in a small business are

  1. Something to sell.
  2. A group of people who want what you’re offering.
  3. A way to collect money.

That's it!

Myth# 3 – All the good ideas are taken. 

Truth

Every business is as unique as the person operating it and we teach you how to differentiate yourself from everyone. If you have a product or service that people want, you can create a business around it.

The Great Depression created  more millionaires than any other time in US history. Why?  According to sociology professor Ivan Light, survivalists don’t innovate. Instead they choose industries with low education requirements and small start-up costs on products and services people still need in hard times.

If you have a product or service people need, now is the perfect time to learn how to start your business.

Click here to get started.

 

*Source: http://canadianentrepreneurtraining.com/six-statistics-about-small-business-and-entrepreneurship-in-canada/

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