Is it a bad time to start a business?

Well, on that basis you might wait till the climate improves and then go under the next time there is a downturn. If your idea is viable, and you have done your research into potential turnover and profits, then I see no reason why you should not start now. Even in bad times people buy the products they want, and if you are in the right sector there may be nothing to worry about. Just do your homework carefully and make sure there really is a living to be made from your idea.

Well, on that basis you might wait till the climate improves and then go under the next time there is a downturn. If your idea is viable, and you have done your research into potential turnover and profits, then I see no reason why you should not start now. Even in bad times people buy the products they want, and if you are in the right sector there may be nothing to worry about. Just do your homework carefully and make sure there really is a living to be made from your idea.

Yea, I understand with proper planning and a good business idea you should succeed..

I'm just worried about it all. It makes me doubt my original idea.

I think there will be a lot of other people like me in the same position who will postpone any plans to start a business this year...

Its like a domino effect which further exasperates the financial turmoil in the UK

It is good to have doubts because that will warn you from making mistakes, but don't let doubts freeze you into doing nothing. Check your idea and see what other businesses are doing in the same line. If they are surviving then you have a good chance as well.

The effect of financial turmoil is relative and can sometimes work in your favour, if you are in the right business. A friend of mine plays the Stock Market, and he loves this sort of financial climate, because this is when he makes most money with share prices going up and down quickly.

Its never a bad time to start a business. It just depends on what it is.

I wouldnt worry about the down turn.
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Thanks for all the advice..

It makes me want to succeed even more.

I hope this thread helps others like me who were having some doubts.