The current economic climate in the U.S. may cause individuals to halt startup plans.
It’s no wonder that people are losing their jobs and choosing to spend less as inflation rises. These are stark truths.
However, this is not the first time the United States has faced a troubling financial landscape. The Great Depression of the 1930s which began with the market crash of 1929 and lasted a full decade resulted in economic chaos.
Millions of Wall Street investors lost it all, consumers curtailed spending, investors held back, and company layoffs resulted in, at its worst, the unemployment of well over 10 million Americans. That fifty percent of the nation’s banking institutions failed only compounded the economic downturn.
However, this period of economic turmoil and uncertainty also resulted in the success of business entities that dared to take a chance and succeed.
Publix Super Markets
Led by a young supermarket manager, Publix Super Markets was born when George Jenkins took the experience acquired working at a Florida Piggly Wiggly to open his own grocery store in direct competition with his former employer. The first Publix Super Market opened right next door. It didn’t just survive. It thrived. Today, the Florida company owns and operates 100 stores state-wide.
Yellow Book USA
Though the company adopted the “Let your fingers do the walking” slogan during a 1970’s ad campaign, this is exactly what they provided consumers during the Great Depression.
Yellow Book USA gave consumers the means to comparison shop without wasting precious resources such as gas or wearing out their shoes. Flipping through the directory pages, they had access to numerous business listings.
Wipfli
This company focused its attention not on the consumers, but on the businesses working to stay afloat to service customers during the Great Depression. They did this by offering a variety of financial services including tax preparation and business planning.
Through adversity and from the ashes individuals and companies alike can strive and prosper. Businesses with a history of almost a century-long have taught us this.
Here at Visa Business Plans, we aim to give entrepreneurs and business owners every advantage to help them succeed. We take the time to get to know each of our clients and their goals, evaluating current business landscapes to ensure a plan for success. So if you want to start a business or grow your current operation, call us today to see how we can help you!
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The information provided in this blog is intended solely for informational purposes. While we strive to offer accurate and up-to-date content, it should not be considered legal advice. Immigration laws and regulations are subject to change, and individual circumstances can vary widely. For personalized guidance and legal advice regarding your specific immigration situation, we strongly recommend consulting with a qualified immigration attorney who can provide you with tailored assistance and ensure compliance with current laws and regulations.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
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