It is not wise to start up a business in the prevailing economic situation thus it is better to wait for the right time. The factors that have been considered prove that the overall condition is truly bad and opening up a new business will prove futile and bad. In fact as the unemployment statistics show it is obvious that giving up on a job in hand to start up a new business is not going to be a wise decision since lay offs and downsizing show how difficult it is to attain employment in the prevailing economic conditions.
The factors show an increase in unemployment and also a bad credit situation due to which attaining a loan to start up a venture will be nearly impossible. Opening up a new venture according to the economic reasoning done in this case give a pessimistic view of the entire situation. The credit crunch has proved to be much worse for small companies and new ventures then any other part of the economy. The analysis proves the fact that opening up a business will be futile and will also prove to be bad since there is a huge risk with the pertaining economic conditions where unemployment is increasing continuously and lending standards are being tightened tremendously.
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