Shelton Steele and Joe Balcken open urban cabin campground in Asheville, North Carolina, during COVID with 16 tiny A-frame cabins in 2022

The Headline

Navigating Uncertainty: Financial Insights for Entrepreneurs

It's always a great time to start a business — and some of the most successful businesses are started during recessions.

Certified Financial Planner

You still have to have a sound business plan and be prepared financially.

Carbonaro

Key Facts

Successful businesses often emerge during recessions, demonstrating resilience and strategic planning due to economic stress.

Background Context

# of tiny A-frame cabins built

16 cabins

Opening year of the campground

2022

% of Fortune 500 companies founded during economic downturns

50%

Key Facts

Shelton Steele and Joe Balcken opened an urban cabin campground in Asheville, North Carolina, during COVID, despite concerns about the pandemic's impact on business.
16 tiny A-frame cabins were constructed for the campground, which opened in 2022, and they surpassed their initial financial projections quickly.
According to Morgan Stanley, nearly half of Fortune 500 companies were established during economic downturns, including notable examples like American Airlines and Airbnb.