Why This Private Business is Heading to the Moon (Watch)

For the first time ever, a private company is heading to the moon. Moon Express got the approval from the U.S. government last year. And it recently raised enough money to make the trip.

The company’s goal is ultimately to mine the moon for resources. But that could be more easily said than done.

The U.S. has already enacted a law that would allow private companies to mine resources from space. But the Outer Space Treaty of 1967 says that the “exploration and use” of celestial bodies can only be done for the benefit of all countries. So some think that private companies mining the moon’s resources wouldn’t meet that criteria, and thus would violate international law.

But since it’s essentially uncharted territory for private businesses, it’s possible that it could all work out. Of course, it’s also possible that Moon Express could spend all of its money exploring and laying the groundwork and then find out that they can’t actually accomplish their main goal.

Always Examine the Risks and Rewards Ahead of Time

When dealing with new territory, no matter what the actual industry, there’s going to be a lot of risk involved. In your small business, be sure to explore the risks and rewards before venturing into the unknown of a new product or service.

The Moon Photo via Shutterstock

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Annie Pilon Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. When she’s not writing she can be found exploring all that her home state of Michigan has to offer.

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