SALT LAKE CITY – From designing and selling blankets to making leis and tropical floral arrangements to selling plant-based, vegan goods, entrepreneurs in Utah and across the country are pushing ahead in what is a somewhat grim economy.
“People are generally optimistic about getting these companies off the ground,” said Laura Goldberg, chief marketing officer at Constant Contact, a company that specializes in handling marketing and communications for small businesses.
Goldberg says they found that tough economic times can actually boost entrepreneurship.
“People say, ‘Okay, I can’t find a job here that I would normally have looked for.’ I’ve been doing this thing on the side for a long time, it seems like now is the right time.’”
30% of people surveyed by Constant Contact say they would start a side hustle in a bad economy. And 45% said they would start their own business or suggest it to a friend or relative.
And even in economies saturated with big business, new services or products can still find markets, Goldberg says, whether it’s raspberry shakes, protein bars with cricket as the key ingredient, or soap made from goat’s milk.
“It might work great, or it might smell great, or it might look great, or whatever it is, there’s always an angle and space for small businesses,” she said.
While start-up costs are a major barrier, about 45% of respondents said they could start their own business or sideline with $10,000 or less in savings.
According to Goldberg, in good times or bad, an entrepreneur needs two things: the ability to sell, so consumers know your service or product exists, and passion for what you do.
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