“…the nation’s microbusinesses are better structured to endure these
difficult times, thanks to a lean operating style and creative business
models. Because of that, they will end the year having taken less
damage than their larger cousins and will be in the best position from
which to lead the way out of recessionary darkness into the light of a
new business growth-cycle day.”
Yes, it’s going to be tough in 2009, but as a new business owner, you’re probably still in that microbusiness category and can take consolation in the fact that your business being young and lean gives you a bit of an advantage.
Smallbiztrends goes on to say that historically, more people start very small businesses during economic downturns. So I advise you to keep an eye out for potential new competition.