A downturn is both a good and a bad time for entrepreneurs. It throws up numerous opportunities but also seperates the wheat from the chaff.
STARTING a business may not be the most important thing on the minds of salaried professionals worried by future layoffs by cost-conscious employers in a downturn. But for those wanting to turn entrepreneurs for some time, this could actually be the right opportunity to jump right in—with the right kind of business models. While starting a new business in these difficult times, one needs to understand that people are spending less, and more carefully too. “A smart entrepreneur will look at opportunities that didn’t exist till now. Whenever there is a mess, there is an opportunity to think out-of-the-box,” says Saurabh Srivastava, founding member of the Indian Angel Network.
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