My wife and her Aunt opened a flower shop recently and so far they have made it without taking on debt. It is not easy but they say with the economy the way it is, if you can make it through, it is a good time to start.
That's exactly it. Even though I'm only 33, almost 34 years old, I've started 3 successful businesses, 2 of them were .com companies during the .com recession and survived the turmoils and then sold them for profit. It's all about making the right decisions that will affect you for years to come. If you can show a profit or break even your first 3 years of business, the business has a better chance at surviving. Making a business plan and sticking to it will help you ten fold, however, the key to your business plan is seeing the change in our industry or change in clientele and making the change to your business plan to accommodate those changes.