Steps to Starting a Recession-Proof Business (ePub)

Recessions are tough times to start a business and the current one is the worst since the Great Depression. In these circumstances, it is imperative to choose a business that will survive. This is made extremely challenging when the true rate of US unemployment is hovering at 17%; well above the 10% rate touted in official figures and unemployment in Canada is likely bloated well in excess of the 8% reported rate. The "official rates" fail to take into account the vast numbers of people who have given up looking for work together with those who are underemployed; i.e., working at temporary jobs or taking work well below their level of skills. Of course it's not convenient to draw attention to such facts; especially by those who may be running for political re-election.The high levels of consumer debt and the possibility of another financial crisis brought about by the collapse in the commercial real estate market could keep the lid on any recovery for several years to come. And, when a recovery finally starts to materialize, governments will suck money out of both businesses and individuals to pay down the record deficits they incurred in bailing out financial institutions together with the costs of supporting massive infrastructure projects, expensive wars and spiralling medical costs.This dismal picture is not improved by the fact that almost 70% of recently formed businesses fail every year; and that's during "normal" times. Obviously, it's a lot more challenging during a recession.Steps to Starting a Recession-Proof Business is designed to assist readers in identifying businesses which will survive in a recession. It helps them select business ideas and then test their "survivability". It also recommends a number of areas that appear to be "recession-proof".This book shows readers how to set up their business and to consider some of the advantages of working at home. It helps them select the right computer hardware and software for their business and how to advertise both on-line and off-line. It covers the importance of business planning during tough times and determining how much money is really needed to get started. Finally, it encourages readers to monitor the progress of their businesses and be prepared to modify their strategies if circumstances change.