Top 10 Reasons to Start a Business now

Do you have one good reason to start your business right now?

How about 10?

Regardless of what people around you (including the media) may say, right now is the best time to get into business. Just go back and look at the economic slowdowns throughout history. Most recessions in the post-World War II era last an average of 10 months, followed by growth cycles that last an average of 50 months.

What this means for the startup is there's no better time than right now to get going and start pursuing your business dreams--in anticipation of the next period of growth.

So with a nod to David Letterman, here are my top 10 reasons you should start your business now--despite the current downturn:

   1. Everything is cheaper.

   2. You can hire more and better-qualified people.

   3. People are looking to change suppliers.

   4. Ownership equals tax incentives.

   5. Family and friends don't want to (or can't) invest more money into the stock or real estate markets.

   6. Suppliers are giving better credit.

   7. You can get good PR by showing you are going against the trend.

   8. You can buy everything you need at auction.

   9. You can find great "low money" or "no money" down deals.

      And finally . . .

  10. You've lost your job, and you have to do something.

Sometimes, the best business decision is the one you are forced into, and the incentive (as well as need) for income is often enough to push those previously "on the fence" to strike out on their own. There's nothing wrong with being in this position; it simply means there is greater urgency to do something that will start to generate income as quickly as possible.

There you have it: my top 10 reasons to start your business in a recession. After all, the odds are on your side that the expansion will be many times more robust than the present slowdown.

There's no better time to start than the present, especially if people around you are more comfortable with their own list of reasons why they shouldn't start pursuing their own business dreams right now. It only means you'll be facing a lot less competition.

Quoted from: entrepreneur.com