Companies Born During Bad Times

[pennypinch]

Would you start up a new business in these hard economic times? I don't think I would try it. I would worry too much about an immediate failure. Here are a few companies who did just that and are still going strong today.

Procter & Gamble-

Brother-in-laws William Procter (a candle maker) and James Gamble (a soap maker) joined forces during the panic of 1937. The economy had 6 years of downfall after the start of the company Procter & Gamble. They managed to make it through and are now stronger than ever.

The panic of 1873 began when a major investment firm Jay Cooke & Co. collapsed. This caused the New York Stock Exchange to completely shut down for days and crisis that lasted six years. During this a company called Edison General Electric was born. The comapny is now called General Electric and is still going strong.

FedEx began during the oil crisis of 1973. Frederick W. Smith started the business when it became necessary to have packages delivered in just a day or two. Even though the business relied on oil for fuel, it somehow managed to stay afloat and we all know how well it does to this day.

Even knowing how well these business's have done throughout the hard times, I would be too afraid to start one today.

[dollardaze]

I have to agree with you that a recession isn't the ideal time to begin a new business.

General Electric, Procter and Gamble and FedEx are the lucky ones that did make it - I'm sure there were many that were not so lucky.