Thinking of open a new business in the crisis season may not sounds like a great idea for most entrepreneur. There are hundreds of reasons backup this statement. Difficult to get funds, high risk of business, need more time to break even, and the list goes on and on ... I believe most people will agree with this.
However, crisis is not just bring a new obstacles for entrepreneur or business, crisis also bring a new OPPORTUNITY in the marketplace.
In crisis season, It will be easier for you to get a GREAT employee with lower fee. Especially those who are laid-off from their old company (some company may close their business or reduce employees). Many experienced-smart-hardworking person outthere are waiting to empowering and add new value to your business.
Based on statistic, crisis is lowering the turnover of employee. They will think twice to move on another job (security of job might become their first priority). In company side, indeed it is beneficial, you can build strong foundation for human resources and their loyalty.
Another significant impact of crisis is lowering intensity and quantity of competition in new business market. It can boost up small or new company to survive and penetrate to the new level.
From financial side, loan money from bank may look risky in crisis situation. But you know what, based on experience, the intensity of crisis will decreasing after one to two year. And it will be followed by GROWTH! Pay back loaned on growing economic season will be very helpful.
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