CREDIT CRUNCH

Worried about the credit crunch?

Sometimes markets surge for no apparent reason; masses of people suddenly "want" something, and the resulting demand can't be immediately met. For example, the current Swine Flu scare has created an insatiable demand for facial masks in several countries - and many entrepreneurs have capitalized on this as a business idea.

Are you brimming with ideas for starting a business now? Look at existing businesses and the products and services they offer and determine if there's a need for more of those products or services. If there is, why not develop business ideas to fit the market gap.

A "bandwagon effect" is also created by larger social trends. There is much more of a demand for home-care services for the elderly than is currently being supplied.
Don’t forget the trend for pets to be treated as family members continues, creating demand for all kinds of pet-related services that didn't exist five or ten years ago.

Write your business ideas down. Keep an open mind and continue to assess everything you read and hear from an entrepreneurial point of view. Let them swirl around in your head - you don't want to run with the first business idea you think of. Discover the idea that's best suited to your skills and desires.

Dream, think, plan - and who knows, you'll be ready to transform that idea into the business you've always wanted.