According to Heather Chaney, program coordinator for the Clayton State University Small Business Development Center (SBDC), starting a business in a recession might sound like a risky idea, but some world renowned companies got their start in the midst of an economic meltdown (CNN, Dell, and Microsoft).
“A recession forces small businesses to accomplish more with less; less resources, less employees, less sales and maybe less profit. But, it also may mean less competition as larger firms go out of business or merge with other companies to stay afloat,” she points out. “While there is no fool proof formula for selecting the best time to start a business, with the proper planning and financial resources your small business has a good foundation for success.”
Individuals interested in finding out about starting a business, including timing, planning and resources, should consider attending SBDC’s next Starting a Business class, to be held at Clayton State – East, on Trammell Road in Morrow, on Wednesday, May 23, from 5 p.m. to 8 p.m.
For anyone considering starting a small business, this workshop is a crucial first step.
Topics for discussion include:
* traits of successful entrepreneurs
* market research
* legal structures for your business
* estimating start-up costs & cash flow projections
* financing alternatives
* business failure factors
* business planning
Since lack of planning is one of the top reasons new businesses fail, attending this comprehensive workshop may be one of the most important decisions a budding entrepreneur can make prior to opening a business.
A detailed business start-up book, "How to Start a Business: A Guide for Georgia Entrepreneurs," and other handouts are provided.
Please see the link below to register. The cost of the class is $69.
Current Clayton State students and staff will receive a 50 percent discount, and should contact SDBC’s Heather Chaney for the discount code before registering.