Recession Should Not Stop You From Starting An Online Business

January 30, 2023

With interest rates on the rise, and the economy slowly creeping along after the new year, creating your own online business is a great and affordable idea. Here are a few reasons why you should start that online business when the economy is trending in recession:

Financial Freedom

-      Starting your own business allows you to have more control over your income and financial stability. During a recession, many people may lose their jobs or face pay cuts.  However, by starting your own business, you can create an income stream that is not as susceptible to these economic downturns. Enter, the platform that enables users from across the world to build the economic opportunity of their dreams, an eCommerce website.

Low Costs of Entry

-      The cost of starting a website business is relatively low compared to traditional brick-and-mortar businesses. With the advancements in technology and the availability of affordable website building tools such as dynamic drag and drop eCommerce creator, and application add-ons, it is possible to create a professional attractive-looking online business for a fraction of the cost it would take to open a physical store. So what are you waiting for? By now, you just stop reading further and take action, moving toward building your eCommerce store. The internet has made it possible to reach a global audience with a web business, so it is possible to sell your products or services to customers anywhere in the world.  This helps diversify your revenue streams and make your business more resilient against current economic downturns.

Now Is the Time

The e-commerce industry has been booming in recent years, hence MyDev is in this space. Starting an online store or any other web business has never been easier! Imagine operating your business remotely, living anywhere you want, even during the recession. According to Morgan Stanley, the percentage of total sales done online versus in a physical store has risen from 15% in 2019 up to 22% in 2022. The proportion of online sales is rising fast, catch the trend and capitalize on it.


If you have a desirable product or service, it will sell in any environment. There are 8 billion people on this planet, and you can only have access to them, in any economic environment, with an online store. MyDev offers several additional features to add to your website to make it as easy as possible to scale and make sales. For example, there’s Sendbat which facilitates mass email marketing, which most likely is where your initial sales will begin and likely account for 3% of your total sales as you mature. Then there’s iPaymer, a transaction processor that’s going to save you a lot more money than using traditional credit card processing systems. Then, there’s iReview which manages and improves your online reputation, getting it as close to 5-star as possible. Check it all out at, and stop procrastinating! Get that website built! 


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