Although recessions are often associated with shocking consequences, it is important to notice that crises also create opportunities for some companies. Those entrepreneurs who dare to start up or innovate and invest during these ‘difficult times’ are often rewarded while others suffer serious problems. This phenomenon, called ‘creative destruction’ by Joseph Schumpeter, means that old ways of doing things are replaced by new ones in times of recession. Until now it looks like all of this will be confirmed by the current recession.Michiel De Meyere
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Although recessions are often associated with shocking consequences, it is important to notice to note that crises also create opportunities for some companies. Those entrepreneurs who dare to start up or innovate and invest during these ‘difficult times’ are often rewarded while others suffer serious problems. This phenomenon, called ‘creative destruction’ by Joseph Schumpeter, means that old ways of doing things are replaced by new ones in times of recession. Until now it looks like all of this will be confirmed by the current recession.
Well done!
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