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Why Now is a Great Time to Start Your Own Business

February 8, 2010


There are several indications that the economy has already hit bottom in this Great Recession. The stock market, known to be a leading indicator of economic trends, has rebounded. Very recently, as large corporations announce their sales and earnings for the fourth quarter of 2009, there have been a few sectors, like technology, that appear to be roaring back to health. Companies like Apple, always a leader in innovation, are still moving forward – the new Apple Tablet is clear evidence of Steven Jobs’ faith in the future economy.

On the one hand, these upbeat omens hold the promise of more jobs on the horizon, of corporate America once again extending welcoming arms and taking employees back into the warmth of the fold. But seen with an entrepreneurial perspective, today can be the first day of the rest a new life as a small business owner. If you can manage to take the plunge.

It's Time Blog #2

If you have been thinking about starting a business of your own, this couldn’t be a better time. You still have a few months before all the experts agree that the economy is on the upswing. Even though some large firms are in hiring mode again, many economists fear that this trend is merely a temporary uptick. NOW is the chance to get a jump start on the competition. Even with some corporations growing their ranks again, there will always be many reasons why being an independent business owner will keep you competitive in the market place and give you an edge to win business.

President Obama is calling on Congress to recycle $30 billion of the remaining TARP funds into a new lending program to help small business owners get loans. The year 2010 may turn out to be the best year in a long time to start up a new business.


The year 2010 may turn out to be the best year in a long

time to start up a new business.


Wages for many salaried workers have actually declined in the last decade. With the job market flooded with unemployed individuals vying for jobs, that is unlikely to change anytime soon. In comparative terms, there is less to lose financially if you make the leap from employee to self-employed this year. The competition for jobs is bound to keep the downward pressure on salaries. People grateful to be back at work won’t protest the fact that they have to work harder to make less than they ever have before.

Many of today’s corporate giants came into existence during hard economic times,  like Microsoft (1975) Revlon (1932) FedEx (1973) CNN (1980) and MTV (1981). There are hundreds of reasons why these companies succeeded in spite of the general economic conditions that existed when they were startups.


Here’s the Quote For Today:

This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has in the last 50.

~ Bill Gates, Founder of Microsoft, Inc.


The takeaway as it relates to your decision to start your own company NOW is this – tough times lower the barriers to entry into the world of small business. As you consider your options for your own startup, think about the benefit of moving ahead now – and getting ahead of the competition that will follow you when the economy improves. 

Tomorrow’s topic:  Developing a Support System to Help You Launch Your Startup

One Comment leave one →
  1. February 8, 2010 6:00 pm

    Now is a great time to start a new business. It’s great that the government is finally opting to help with small business funding to those small businesses that need it. Hopefully this will really help them out, and get these small businesses back on their feet.

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