Why The Pandemic Is An Ideal Time To Start A Business
What valuable lesson can a business owner learn from king kong sabri suby and his meteoric rise to the top? Having your own business is an incredible thing. However, even if you rise to the top of the field, you must not be complacent.
For people who are planning to start a business, the pandemic might be the right time to give it a go. Remember that Uber, CNN, Airbnb, and countless others started during the global financial crisis. The difficulties of the crisis made them tougher for years to come.
According to the World Bank, the global economy will shrink by 5.2% in 2020 to become the worst performance since 1946 and the aftermath of World War II. The US economy is already in recession and the UK is expected to experience the worst downturn since 1706.
However, many businesses are starting despite the pandemic or as a result of the coronavirus. In the US alone, 67,160 applications were filed by new companies since the last week of May. This is called entrepreneurship necessity. People who have lost their jobs are motivated to start a business. With more time on their hands, they turn their ideas into action.
For example, several business opportunities became available due to the shortage of personal protective equipment. Face mask suppliers also increased and they are receiving bulk orders.
According to king kong sabri suby, the most crucial element when starting a new business is the willingness to put in the hours and invest in it. The key to success is ambition and drive.
