Quote from: AmoreJaz on February 06, 2024, 10:14:18 PM

Quote from: Yogee on February 06, 2024, 09:50:09 PM

Quote from: alastantiger on February 06, 2024, 04:33:47 PM

[....] Despite these challenges, do you think there are still opportunities during economic downturns?

I guess another thing that's not usually discussed is that economic downturns also eliminate your competition if you decide to stick it out. It's an opportunity to expand your business buying more assets and maybe enjoy some tax breaks. You'll be in a good position once the market rebounds.

that is, if you have good financial back-up and other resources to tolerate the the current economic conditions. the very reason why a lot are not sticking out because they can't sustain their operations as they will go bankrupt.
definitely, they will find alternative options for those who can't sustain their business during economic crisis. and not many business owners can truly keep up their operations because they can suffer negative profits if they continue to operate without much customers to serve.

Just in case you have a skill too,like a high paying skill,people can need your services,the more creative and hardworking you are,the more money you'll make.
That's another means to keep oneself engaged in times of economical recession.Although,it's really not easy to cope in situations like recession,but the truth be told one needs either a financial backup like a side hustle,and its during these times that people will want to seek more financial advise and coaching from experts.