I'm not sure if this has been asked before, but a search didn't seem to find it.
Do you think a economic slump (such as the present) is a good or a bad time to start a business? Does it depend entirely on the type of business or is it possible to make generalisations?
I don't have specific plans, nor would I act purely on opinions voiced, but purely out of curiosity I sometimes wonder about which factors would prevail in their influence on one's business success. For example, at the moment we know that credit is nominally hard to come by, and that's something most if not all startups need. We know also that people and existing businesses are much more judicious with their money (at least you'd hope so ), yet on the other hand perhaps the playing field is leveled somewhat in that a particular industry or market demographic would welcome a fresh entry who could do things better or cheaper. Similarly suppliers ought to be more efficient and cheaper as there's more competition, which helps out with the expenses.
Any thoughts? And can anyone recommend a book on macro- and micro-economics for an interested and reasonably literate beginner? Something that introduces principles with examples would be great.
Look forward to ASFers' views.