Over 100 Companies That Survived
History's Worst Recessions
2020 was a bad year for business. Global lockdowns to halt the spread of COVID-19 saw unemployment rise, consumer confidence fall, and although enormous stimulus packages provided short-term relief, the spectre of hyper-inflation looms further down the road. In other words, this doesn't seem like the best time for new businesses or entrepreneurs.
But that's exactly what the economy needs as the world begins to reopen. And there is hope. Because as BusinessFinancing.co.uk points out, some of the most successful companies of all time started amid a financial crisis.
Airbnb, the innovative property rental platform, launched in 2008, just a few months after a global credit crunch. Today, Airbnb generates over $90million in profit per year. In fact, economic downturns are often excellent opportunities for tech start-up and disrupters. Uber, Slack,and mobile payment provider Square all came to market around the same time as Airbnb.
But you don't have to try and change the world to make a business grow in a recession. Sometimes, doing the simple things better than anyone else is enough. Dominos pizza chain started life in 1960after founder Tom Monaghan secure a $900 loan to buy a storefront inYpsilanti, Michigan. But that modest sum wouldn't have been easy to come by. A national recession meant that USA GDSP dropped by almost 2% in just 10 months.
Go back even further, and you'll see that 29% of the Fortune 500 began trading as economies were shrinking. See how they started, and grew, in the detailed timeline of 126 high successfully companies that survived a recession...
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