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When the economy gets tough and the problems, too much , that's when innovation is born. The challenges won't disappear immediately, of course not, it'll linger for a while before the economy becomes better, then stable, then run on automatic.
As for the new businesses, and local manufacturing companies, the same thing applies. They are pioneer and solutions to most of the economic problems. Of course they are going to face alot of challenges but ensuring wouldn't make it worth it not just for them but for the country at large.
So, yes, downturns are even where more opportunities lies
Opportunities remain open for anyone who is willing and able to accept risks. The problem is, many people are reluctant to start because they are afraid of the risk of failure. There are many business ideas that thrive in times of inflation - but not many people are willing to do it because they don't want to lose money while trying.
Of course, there are many challenges that must be overcome by anyone starting a new business - but this business will develop well as long as the manager knows how to develop the business. Anyone who fails to understand risk or is afraid of risk will ultimately have difficulty growing - while others become famous because they are not afraid of failure.