NEW YORK | The economy didn't look that bad when Laura and Roger Bickford opened their medical clinic back in July.

But by mid-September, the couple was asking an unsettling question: "Oh my God, were we crazy to open the business when we did?"

Starting a business during 2008 might seem like the worst possible timing, but many owners, including the Bickfords, planned their ventures long before the near-collapse of the banking industry hurtled the country deeper into recession in September. Many of these embryonic companies have struggled as the economy plunged, challenging their owners' entrepreneurial skills. But other businesses are more than holding their own and still others are actually thriving.

The Bickfords, who live in the Sacramento, Calif., area had planned to buy an existing business, but the changing lending environment early in 2008 made it impossible for them to borrow. They ended up starting their own company, Spring Medical Clinic, borrowing money from relatives to fund it.

"We are getting patients, despite the economy," Laura Bickford said. But she and Roger do wonder, "how many more would we have if we had a viable economy? We don't know."

They are aware that the company that they weren't able to buy sees more patients than they do. Still, she said, the business, which specializes in weight loss management, is growing. "We saw over 60 new patients last month. And this month continues to be busy."

"We have a certain amount of money we need to earn to stay afloat," Bickford said. "If we can continue to do that, we can continue to stay in business."

Jake Cohen and his parents also planned to open their business when the economy was healthier. The family bought and renovated a bed and breakfast in Palm Springs, Calif., and hoped to open it last January or February, at high season. But the renovations took longer than expected, and they were forced to open during the slowest time of the year. Then, the economy tanked, and bookings for the 10-room Rendezvous Bed & Breakfast have been slower than expected.

"We've kind of hit the double whammy here," Cohen said.

The saving grace so far is that many guests are reserving at the last minute, and Rendezvous is booked for New Year's, so the Cohens are optimistic about the upcoming season and hope to recover their startup costs soon.

"It's always hard after spending so much on a renovation to not see it come back quickly," Cohen said.

Some businesses founded this year are prospering because they're in a niche that's in demand in a downturn. While many retailers are having their worst holiday season in years, Julii Baack's store in the Dallas suburb of McKinney is flourishing. Baack owns a Plato's Closet franchise, selling used clothing for teens.

Baack, who was laid off from a job in the mortgage business more than a year ago, opened her store in October. She had signed the franchise agreement early this year, but it took six months to get financing.

"Our store is coming out of the gate really strong," Baack said, explaining that her customers come from across the economic spectrum. They're searching for brand names and designer labels at dramatically reduced prices -- sometimes buying five or six garments for what one would cost at a mall store.

December sales have been stronger than expected. "People usually don't buy used products for Christmas, but this year, they are," Baack said.

Matt Meyerson said his business was going strong from its start in April, then hit the wall in September when the collapse of Lehman Brothers Holdings Inc. sent the credit and stock markets into chaos.

Meyerson, who owns RPRT Communications, doing marketing, communications and celebrity endorsement work in Los Angeles, said deals he was negotiating in mid-September fell apart.

"We were working on a deal with a diamond company the week that the stock market took its big plunge. The guy backed out," Meyerson said.

Other would-be clients had called looking for Meyerson to do consulting, but "they sort of disappeared," he said.

The turnaround in Meyerson's business came as little surprise -- marketing budgets are often one of the first items that companies cut. So, like other business owners in similar situations, Meyerson is drawing on his entrepreneurial skills even more than when he launched the business.

"There's definitely opportunity out there, but I think people are spending their marketing dollars smarter. ... My challenge is figuring out where they're spending it and where to focus my energies."

Inevitably, a recession leaves many business owners uncertain about the future. Lanny Grossman, whose New York-based public relations firm focuses on the travel industry, said he has had plenty of interest from hotel operators in getting publicity -- until their marketing budgets dry up.

"It's not because I'm lacking the skill set, it's not because I'm running my business poorly, it's simply a function of times are difficult," said Grossman, owner of EM50 Communications.

Going into 2009, Grossman said he's at something of a crossroads and will need to decide by mid-year whether to keep his company going.

"If I can't turn this into a real entity, then I'm wasting my time," he aid. "I'd like to see it through and make it as successful an entity as possible -- I just hope the rest of the world agrees with me."