Bad Times Are a Bad Time to Start a New Company? Tell That to GE, IBM, and GM.

Sometimes a downturn /crisis /depression /recession /deflation /stagnation /stagflation /panic can be the best time to start a new company.

Yes, bank credit is tight, but companies of all kinds are giving discounts on their products and services.  Employees are easier to come by.  Have you posted a job opening lately?  You better have a big inbox.

Here are five companies that started during tough times:

Procter & Gamble – Panic of 1837
IBM – Long Depression of 1873-1896
GE – Panic of 1873
GM – Panic of 1907
FedEx – Oil Crisis of 1973

Read more:

8 Places to Get Financing

This is a good post on CNN Money on alternative places to get money – alternative meaning not banks.

Virgin Money (used to be Circle Lending) is a cool idea – it helps structure deals you do with friends and family.  That’s where most early stage money comes from anyway, and I know too many families and friendships that suffered when investments went sour and there weren’t structured deals.

“The French Have No Word for Entrepreneur”

As attributed to George W. Bush.  Did he misunderestimate as well?

Check out this article in Newsweek.  Having lived and worked in France, I’ve always said it’s not a place to work, but a place to get laid off, and retire.  But now the government has just dramatically reduced the financial requirements on starting a new business.  They estimated 200,000 new ventures by the end of 2009, but as of mid-February, there were already 62,000.

This is a sea change.