10 Reasons to Start a Business in a Down Economy

Do you or someone you know toy with the idea of starting a business with the current state of the economy?  Well, you are not alone. The difference between just thinking about and actually doing it takes risk. And, some times, just the right reason gives one the motivation to actually take a leap with risk attached.

What might some of these reasons be?  Michael Slapiro, Dynamic Management Solutions, Inc., offers a great list on Small Business Daily:

1. Everything is cheaper – From raw materials to real estate, these are the lowest prices you’ll see.
2. You can hire more and better-qualified people – Obviously…
3. People are looking to change suppliers if they can find one offering a better product or service for a lower price.
4. Ownership equals tax incentives related to business deductions not available to individuals.
5. Family and friends don’t want to invest more money into the stock or real estate markets – they might find your offering more secure.
6. Suppliers are giving better credit.
7. You can get good PR by showing you are going against the trend – it’s a great story.
8. You can buy everything you need at auction.
9. You can find great “no money” down deals.
10. You’ve lost your job, and unemployment benefits are running out – why not go for that dream.

Maybe, just maybe, one of these reasons, will help the  dream,  solution, product, or service hiding in the “thinking” realm actually become a reality and the next Fortune 500!

But, wait a minute, what does this have to do with Stewardship — one the the major components for business stewardship is the management and assumption of risk that an entrepreneur or business owner takes.

Copyright 2009. Donelle L. Abrahamson. http://www.marketsteward.net.  All Rights Reserved.

This entry was posted on 17. July 2009 at 05:40 and is filed under empowerment. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.