Businessess that Started in Recession

Many would think it is impossible to find an opportunity during the difficult times. But the truth is, some individuals are thanking the bad luck for bringing in the good luck to their pockets. It might seem counter intuitive to start a new business when the economy is suffering. But a recession can actually be the ideal and best time for launching a company. In fact, there are several well known and successful organizations were born during an economic slump.

How come do they succeed?

It is all because of the founder, he recognized what the market need and filled it. Most of the major corporations make it bit just by doing that.

One of the corporations who found opportunity during recession is the Hyatt Corp. It opened its first hotel’s doors at the Los Angeles International Airport during the Eisenhower recession (1957 to 1958). The hotel chain rose to worldwide fame in the following decades and now operates more than 365 hotels in 25 countries with premium services.

Recession Businesses

Burger King Corporation is another, with its flame-broiled burgers, James McLamore and David Edgerton began their company in 1954 when they opened their first store in Miami. In the midst of another recession in 1957, the company introduced its successful signature burger - the Whopper. Up to this day, the company operates more than 11,100 locations in 65 countries.

HP or Hewlett-Packard Development Company LP was inauspiciously born in a Palo Alto garage at the end of the Great Depression. This electronic company, initially supported by a mere $538 investment, has grown into the first technology business to exceed $100 billion in revenue, earning $104 billion in 2007. Now, it operates in nearly every country in the world.

These are just some of the companies who make it big, not only in their respective countries but worldwide, during recession. It only proves that every difficulty has its own opportunity. Only few were able to notice it.