Starting a business during a recession can be tough due to uncertainty and there being fewer startups in general. However, it can also mean less competition and if the opportunity presents itself, take the money to start the business even if the terms are not the best.
Venture capitalists urged their portfolio companies to raise money immediately and prepare for a looming financial crisis due to the impact of the COVID-19 pandemic on the economy.
When running a business, it's easy to only focus on the positive results. However, looking for metrics that prove the business isn't working can be just as important.
The slowing economy, high interest rates, and banking jitters may cause main street businesses to stop expanding and hiring, resulting in lower bank profitability. Despite this, the strong labor market with two job openings for every unemployed person is a positive sign for the economy.
Learn ways to shift your mindset from negative beliefs about money to a positive, powerful and abundant one, and avoid the danger of entitlement in a family caused by money.