In March a lot of small businesses across the country were forced to close down amid the fear and spread of the coronavirus pandemic. While this isn’t great, it is not all gloom and doom since some of these businesses have resumed normal activities in recent times as the surge of the pandemic continues to go down. What then does this mean for new investors? Is investing in local businesses doomed from the start due to the effects of COVID-19?
The Rebuilding Society user experiences say otherwise, and a lot of feedbacks have shown that recession or hard times could be a good time to start a business for a number of reasons. Going by the fact that customer needs are the driving force for setting up new businesses, then, we could all agree businesses could still thrive in a time like this.
In essence, while it seems the business environment is hostile and heading towards recession right now, for creative and innovative entrepreneurs, now might be the right time to start their own businesses. While there are no certainties when it comes to business, not to talk of during a worldwide pandemic, here are a few reasons why investing in a small business right now might not be such a bad decision to make.
Loans are Available
It may seem unintuitive, but economic uncertainty creates an environment conducive to lend money. Interest rates are lower, which means loans are more affordable, and smart investors may use this opportunity to access the kinds of business loans they’ve always been after and use it to invest in a viable business opportunity that can address the various customers’ needs in a time like this.
There is Room for Providing for Necessities
The coronavirus has caused a very specific set of problems …Read More