16 Businesses Started During a Recession
Despite current economic challenges due to the COVID-19 pandemic, sixteen businesses have been successfully launched since 1876 when General Electric was founded during a recession period - proving that there are still opportunities available even in difficult times.
Dec. 29, 2022 9:27PM
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A picture of various businesses logos with a background of money bills representing economic growth despite challenging times.
The current economic recession has been difficult for many businesses, but it is also an opportunity for entrepreneurs to start something new. This is evidenced by the fact that sixteen businesses have been founded during recessions since 1876. The first business to be founded during a recession was General Electric in 1876, followed by Disney in 1929 and Revlon in 1932. Microsoft was started during the 1975 recession, while Trader Joe’s and Electronic Arts were both established during the 1982 recession. iRobot, Netflix, Airbnb, Slack, Stripe, Square, Instagram, Uber and WhatsApp all started during the 2008-2009 Great Recession. The most recent business to be founded during a recession is Warby Parker which was launched in 2010. These companies are proof that there are opportunities even when times are tough economically. Starting a business requires hard work and dedication but it can also provide financial stability and job security for those willing to take on the challenge of entrepreneurship. It may not be easy but these sixteen companies prove that it can be done successfully even in challenging economic times like we’re currently experiencing now.