Starting a new business preceding a looking recession...

Paisleymoon

EDITED: Uhm, LOOMING.... not LOOKING in my headline.. what was I thinking??
 
Anyways, What businesses would thrive?  Most of my skills are entertainment based, froufrou stuff.. the things Id assume, would be the first to be cut from a tightening budget...
 
What do you guys think? Does the current financial forecast worry you? Will it stop you from trying?  Which businesses do you think transcend the foggy future of the america economy?
Paisleymoon7/24/2008 9:51 AM

besthealth

I`m not too sure that entertainment is the first to go as I think it may be the source that others seek as an escape. Look at the box offices - movie tickets are still breaking records, concerts are still selling out, sport arenas are still seeing their fans in the high ticketed arenas, etc. However, it depends on the kind of entertainment. I love to travel, dine out, go to the museums, concerts, plays, etc. If I have to cut back on something, it would be on driving. I would use the public transportation to get to the things I love. I may even cut the trips from 4 times a year to perhaps 2.
My business is one that although it may feel a hit from the economic setbacks, it will be one that I can use creatively to ensure that it is flexible in meeting the needs of the clients - they would want to maintain their relations with the business - as long as there is something valuable and beneficial for them.
I wish you much success!

stonesledge

Craig.. remember your car dealership question??? RIGHT ON!!
 
Erin

aihanmi

Businesses that help people enjoy their lives are good bets. So I think you are on the right track.  In my opinion this is a great time to start a business as suppliers are hungrier and the market is telling us what it thinks is important right now, despite gloomy economic reports.  Find at least two businesses doing what you do and try to understand how successful they are. Then go for it and enjoy.