Although some entrepreneurs are hesitant to start new companies during tough economic times, others are unfazed and readily pursue new opportunities. Recent articles in both The New York Times and The Wall Street Journal document the stories of people who are creating new companies and jobs for themselves and others during the current COVID-19 pandemic.
Of course, sizeable risks are involved, so those eager to start a new business must be ready to revise their goals if their initial plans fail to garner the level of support they desire.
Here is a general overview of the favorable conditions that are causing many to start new businesses. Additional information looks at the types of companies
being started to meet new needs and better address more established ones.
Unique opportunities await those with strong business skills
While some experts in the United States are predicting that as many as 700,000 firms may go under this year, many entrepreneurs are already starting new businesses of their own. The following conditions are helping these creative people move forward.
Types of new businesses that may be gaining traction during the pandemic
Please feel free to contact one of our Murray Lobb attorneys. Once we decide to work together on your new business venture, our firm can provide you with the critical legal advice you will need. We can also help by drafting the various types of contracts and other documents that are often required.
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