Starting your own business may pay off in recession

Starting your own business may pay off in recession

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"Times are tight. Everybody is looking for ways to save and I was just saving a lot on grocery bills and wanted to share that," Katie Van Dyke explains. "Times are tight. Everybody is looking for ways to save and I was just saving a lot on grocery bills and wanted to share that," Katie Van Dyke explains.

By KRISTYN CADDELL
6 News Reporter 

KNOXVILLE (WATE) -- Although the recession continues, experts say now can be a good time to start your own business.

Katie Van Dyke is a busy, stay-at-home mom and an online business owner for the past two months.

Her site, www.couponkatie.com, aims to provide consumers with printable coupons as well as other discounts at area businesses.

"Times are tight. Everybody is looking for ways to save and I was just saving a lot on grocery bills and wanted to share that," Van Dyke explains.

"When you look at any recession, it's typically been the best time to embrace innovation and try a start-up business," says Alex Lavidge President, with Knoxville Overground, an organization dedicated to providing resources to people with start-up businesses.

Knoxville Overground has a membership fee of $49 a year.

"I think that right now, Americans are looking not for jobs, but opportunties," Lavidge says.

If you're interested in a start-up business, Lavidge offers these tips:

  1. There are no "get rich quick" start-ups. Anticipate at least a year to make a profit.
  2. Do research on the market and find a need, something people will have to have, that will save them money.
  3. Some businesses can be started for as little as a few hundred dollars, especially online sites.

"Right now, the green economy has the most opportunities for start-ups, from renewable energy to recycling programs to green building supplies. It's going through the roof," Lavidge says.

The couponkatie site received 30,000 hits in the first few weeks. There's no profit yet, but she hopes it's something the future holds.

Coupon Katie is a free service and Van Dyke doesn't think she would charge for use at this point. She hopes to get profits from advertisers and by partnering with local businesses.

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