FAQ # 9 - Is it a good time to start a new venture?
Advice - There is no better time than now to start or invest! Many businesses thrive in a difficult economy, if you can survive, there is only one way to go as the economy recovers.
These are some of the successful startups who took off during the economic recession of 2008 - 10:
1. AirBnB (2008)
2. GroupOn (2008)
3. Uber (2009)
4. Slack (2009)
5. WhatsApp (2009)
6. Instagram (2010)
7. Pinterest (2010)
In fact even Microsoft and Apple started in mid 1970s, just after the US recession due to oil crisis!
Despite the COVID-19 pandemic set to result in a near-certain global economic recession, India’s investment ecosystem has been abuzz with fundraising updates over the past month with more than $700 million in capital raised by #startups. Even as the #hospitality, #travel, #aviation and #retail sectors took a hit, investors put their money into #edtech, #fintech, #fooddelivery, #biotech and #omnichannel retail platforms.
So if you have a strong heart, great idea and a super team, you should take a plunge NOW.