Last Updated Feb 18, 2009 10:21 PM EST
Business Week: Starting a Business in a Downturn: It might go against your instincts, but starting a business in a soft economy has advantages.What do I think? Well, assuming you've come up with a really good idea, developed a business plan, and all that good stuff, well, who the heck knows. Let's look at the pros and cons:
USA Today: Strategies: It's a good time to start a business. Really
The Industry Standard: Five reasons why a recession is a good time to start a company
A WSJ.com poll: Is it a good time to start a business? shows 69 percent of 843 voters say yes.
BNET's Big Think: Five Reasons To Start a Business Now
Also, I heard somebody say it on CNBC this morning, so it must be true, right?
- Investment capital is tight; you need to plan for a very, very long runway
- Tough to find customers of any kind (consumers, small businesses, enterprise) with money to spend
- Easier and cheaper to find qualified workers and talented managers; same goes for material, equipment, office and manufacturing space
- If you've been laid off and there are no jobs, what else have you got to do?
Look, this is actually pretty straightforward. If you've got an idea, can get your business plan ducks in a row, can find capital, and have a long enough runway to survive until customers have money to spend, then it's a good idea. If not, then it's not. But that's just me.
What do you think?