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The example of Citi was to show a broader perspective of business, one of the world’s major banks. Surely the size of your company will be a fraction of what the Citi, but this example is still valid.

With all that we have seen, I mean that there is no perfect answer for the creation of a business or not in times of crisis. I think there are many other variables to be considered and that the crisis can not be the sole determinant of this. Again, any time is good for creating business, but the reasons you have to say yes or no depending on your situation.

In times of crisis, many companies report having problems, be on the verge of bankruptcy and take action to protect them from disappearing, as is the case of seeking protection through restructuring legislation (Law 550 in Colombia and in the U.S. Chapter 11, to name but two). In these situations are all types of businesses, from small businesses to large corporations. You could say that all companies are susceptible to these problems, but not all outgrow it. This is due among others to good management, strong products, etc., But mainly because the economy is going and can not disappear all companies.

So if your afraid to start a venture is tied to these risks, saying that this fear is very valid, I recommend you look around and realize that despite the crisis, the economy is still running and both individuals and companies continue to consume goods and services. Your enterprise did not succeed in times of crisis, but the crisis is just one of the factors that define the direction of the enterprise.

As a last tip, remember that the economy is cyclical and will eventually run into a crisis. Your company must be prepared, from the standpoint of financial and organizational, to address the crisis. This is a topic for another article, but I leave for you to think. And remember that every crisis brings opportunities, just have to know to find them.

credit to: Andrés Julián Gómez M.
Source: www.gestiopolis.com/innovacion-emprendimiento/creacion-de-empresas-en-epocas-de-crisis.htm
image source: http://u7.org/images/1229126349.donate_money.jpg

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