Start a Business--Now <i>Is</i> a Good Time
Don't let the recession fool you--there's no time like the present to launch your own business.
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The question of whether to start a new business during arecession or wait for the economy to improve is on the minds ofmany entrepreneurs these days. Certainly there are pluses andminuses to starting a new business in a recessionary economy. Butthe reasons to launch a company during weak business cycles may faroutweigh any reasons for delaying the launch. In fact, the reasonsagainst starting a new venture during an economic downturn may bethe very best reasons to get started in the first place:
Demand is down. The biggest reason often sited fordelaying the start of a new business during a recession is thatdemand is down-thus it is reasonable to assume there arefewer buyers for a new company's products and services. Infact, this may be the most compelling reason to launch. Becausedemand is down, prices are down. Therefore, it should require lessstart-up capital. The rent on your office space will be less thanit would have been one year ago. Your employees will no doubt workfor less because unemployment figures are increasing every month.How about office furniture, equipment and supplies? They will costless today. Even the cost of hiring a lawyer to incorporate thebusiness and assist with other important documents will be lessbecause they need the work, too.
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