Why Start a Business Against a Challenging Global Backdrop? 

by Josh Biggs in Business, Startup on 25th April 2022

Have you been dreaming of starting a business? Maybe you’ve had an idea for years, but it’s never felt like the right time? 

The world has seen its fair share of challenges recently. From pandemics to recessions to climate change, it might seem like there are many reasons not to start a business. The truth is, though, that starting a business during global unrest might be the best decision you ever make. 

That doesn’t mean it comes without its challenges, but that is part and parcel of starting a business no matter how the world is looking. You might stumble at times, and there will be important lessons to learn along the way, but starting a business against a challenging global backdrop can lead to unbridled success. Here is why. 

New Opportunities 

Times of worldwide unrest can bring about new opportunities for businesses. In fact, for the most innovative, you can create a business never seen before. 

Take the COVID pandemic as an example. Before that, employees working remotely wasn’t as widespread, and meetings usually took place in office rooms. After it started, people

started using Zoom for their meetings and working from their home offices. Many companies took advantage of this new opportunity. Some started video-conferencing apps, while others created communication tools for businesses. 

During a time of challenges, you can take the opportunity to create a business that solves current problems. You can find success by using your knack for innovation and looking ahead. 

A Tighter Financial Plan 

One of the reasons so many businesses fail in the first year is a lack of financial planning. During a difficult time, though, you don’t have the chance to mess up. From the very beginning, you must count your coins as though they are your last. 

It might be stressful, but this tighter financial planning will help you make it through the first year and beyond. Plus, you’ll gain invaluable financial experience that will help you along the way. 

Take Lineway UK as an inspiration. The founder, Ash Kejriwal, started the business in Coventry, UK, amid the pandemic. He knew that customers would be counting their own coins, so he sought to create a line marking paint business that’s affordable and focuses on customer care. With proper financial planning – and unwavering values – the company succeeded. 

The Worst Times can Bring More Time 

Global challenges include pandemics and recessions, which can, in turn, lead to job losses. For whatever reason, an unsettled global time may result in you spending more time at home. That leads to an opportunity to spend that time creating something visionary and innovative. 

If you have more time to spare, you can use it wisely by starting the business you have always dreamed about. If it succeeds – brilliant! If it doesn’t, you have gained experience and not lost much anyway. Which leads on to the last point… 

What’s One More Risk? 

A challenging global backdrop often makes people wonder, does it really matter? When everything is already unstable, what’s one more risk? Yes, you might fail. No one can guarantee anyone’s success, but when life is already hard, you might as well take a shot at something that could bring you true happiness.

Categories: Business Startup