I want to start a business but I am nervous about the current state of the economy in the US. I know that there are often opportunities in every type of economy and certain types of companies can still flourish, but if the risk for failure is much higher then I’d rather wait.
I am unsure what to do because I don’t want my fears to rule my decision making here. Is this a bad time to start a business in the US?
I would say it’s a bad time mainly because interest rates are up. Unless you have a lot of cash on hand, high interest rates make borrowing higher and profitability lower. That being said, just cause it’s a bad time doesn’t mean you can’t succeed. Just more hurdles.