High-Tech Startup Businesses in a Recession – Why now is the right time for opportunistic entrepreneurs
Jeffrey I. Fialky, Esq.
If you have been examining the idea of starting up a new business, or perhaps expanding into a new niche of your current business, would you consider now to be perfect time for your new endeavor? For many budding technology and web-based entrepreneurs, the answer is a resounding, “YES!”
No longer are entrepreneurs meeting with venture capital firms armed only with a business plan, PowerPoint presentation, and a registered domain name, and then receiving millions of dollars in start-up capital. Many new business start-ups are being formed in basement and attic home offices. Instead of dozens of employees and an initial budget resulting in deficit cash flow for years following commencement of business operations, the new business model is lean, and often, the ‘staff’ is one or two individuals assuming all tasks as chief-cook and bottle-washer.
There are likely few individuals or companies, and likely no industries fully immune from the results of the current economic climate. Certainly, as dominating headlines continue…
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July 6, 2009