Throughout the 2008-2009 recession we have seen a rash of articles about why it’s a good time to start a business. Sometimes I feel those articles are more a matter of the writer trying to convince himself or herself that it’s a good time to start a business, than convince anyone else! After all, some people lose their jobs and then become unwilling entrepreneurs.
Still, it’s true that a recession can be a rare opportunity to start a business. One reason: competitors (especially large corporations) are distracted by their own market challenges.
That can be good for you if you are thinking of starting — or expanding — your business. It means others in the marketplace are not minding the store. It could provide just enough of an opening in the market to get a toehold to scale new heights.
Over at BigThink I have a guest post up about why a recession is a good time to start a business.
BigThink is a pretty interesting thought-leader blog. There are videos from people such as Thomas Cooley, the dean of New York University’s Stern School of Business, discussing opportunities during recessions.
Another highlight I’ll point you to is a video of Dan Doctoroff, President of Bloomberg financial news. He discusses how businesses, including small and midsize businesses, are capitalizing on the dynamic landscape of the current economy. He sees it as more of a cyclical economy with creative rebirth happening even in the midst of negative news — it’s pretty confidence inspiring.