We all know that there’s a financial crisis affecting the world, the Philippines not excluded. It arguably started in the United States, which is now in a recession. We can’t say, not yet anyway, that there’s a global recession, but we can say that there’s a global financial problem.
Banks and financial institutions are becoming more strict in lending money. Worse, many banks and financial institutions closed down or were bailed out. Capital for businesses, both start-ups and established, is not readily available like before. Companies are closing. Layoffs are inevitable.
These statements are not meant to scare anyone. It served as the backdrop of a recent informal poll over at Pinoy-Business.com. Would you still try business in 2009? The answer is pleasantly surprising.
The poll ran from 26 December 2008 to 26 January 2009. Out of the 100 votes, 95% (95 votes) said they would still try business in 2009, 3% (3 votes) said they are not going to try business in 2009, while 2% (2 votes) said they don’t care.
Good luck and God bless to all entrepreneurs. May your business endeavors be greatly successful.
