Worth it to start a business amid possible hyperinflation?

[madlife]

Newbie here, just a few things on my mind In these unpredictable times and with inflation starting to grow in my area, is it worth the risk of starting a (importing) business? Maybe I am worried if people are more focused on necessities, business would dwindle. Just wondering peoples opinions, my mind is pretty made up though, and i am hungry. Welcome any responses.

 

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[Mammoth]

If you think people are going to be more focused on necessities, then how can you serve them via that industry?

There are so many smart people out there who never get started because they're always rationalizing their way out of it.

You most likely already know enough to get started. Figure out everything else along the way.

 

[MJ DeMarco]

IMO, a business is one of the best defenses against hyperinflation.

 

[Johnny boy]

When it costs $19 for milk and $400 to get your lawn mowed, you'll be glad you're in business selling things for those high prices, instead of crying because your 401k is now essentially a 75k.

 

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[madlife]

When it costs $19 for milk and $400 to get your lawn mowed, you'll be glad you're in business selling things for those high prices, instead of crying because your 401k is now essentially a 75k.

Word. Thanks for the motivation.

 

[Walter Hay]

Newbie here, just a few things on my mind In these unpredictable times and with inflation starting to grow in my area, is it worth the risk of starting a (importing) business? Maybe I am worried if people are more focused on necessities, business would dwindle. Just wondering peoples opinions, my mind is pretty made up though, and i am hungry. Welcome any responses.

The answer could be influenced by whether you are intending to start an eCommerce business or a B2B business.

The attitude of consumer customers might be more affected by the worries about inflation, but many B2B customers will continue producing, and consequently maintain demand for inputs. If you can meet some of those input requirements with better service, faster delivery, greater reliability, or more effective products, and maybe a modest cost saving ........ There's an importing business for you.

The posts above refering to the wisdom of having a business during inflationary times are well worth taking into account.

Walter