It’s not unusual for budding entrepreneurs to fret over the best time to start a new business, especially during economic downturns when even the most self-assured impresarios often become paralyzed with doubt. They shouldn’t. After all, there are advantages to starting during tough times including reduced competition for top talent, and lower rent and overhead costs. A study by the Kauffman Foundation found that more than half of all Fortune 500 companies in 2009 were launched during recessions or bear markets.
The bottom line: For those with a great business idea and plenty of passion, the best time to start is always “right now.”
Photo Credit: Naotake Murayama