Believe it or not, an economic downturn is a good time to start a business. There are openings in competitive markets and breaks on start-up costs and overhead.
Rents, supplies and other costs can be lower, and it’s easier to find qualified and affordable help. This makes it easier to offer a lower price for goods and services than larger, more established companies at precisely the time customers are looking for any way to spend less. (Read the full article on Kiplinger.com)
Not only is it a good time to start a business, but the Obama Administer has plans to beef up the Small Business Administration to rebuild the programs — particularly the loan program — which suffered under Bush Administration budget cuts. (Read that report also at Kiplinger.com)
This is so true. We have found that in economic downturns we can find more niche markets for our services. We can react faster then a larger business. Dream, plan, act.