I have been with a company that provides computer services for 15 years that could see further downsizing. I’ve wanted to start a systems consultancy for a long time and if I get laid off and get my payout, I could choose to start this project. But is it advisable to open a business at this point? Esteban Rojas, Monterrey, Nuevo León.
Regardless of what people around you are saying, this is the best time to step into the business world. It is enough to analyze the past and the various economic slowdowns throughout history.
Most post-war recessions lasted around 10 months, followed by growth cycles averaging 50 months. That said, there is no better time than now to realize your entrepreneurial dreams and anticipate the next phase of expansion. Learn about the 10 reasons why you should cheer up despite the uncertain situation in today’s world.
1. Everything is cheaper right now than it will be in a few years
With asset prices naturally rising, there is no better time to venture into real estate, construction, heavy machinery, and even financial markets. Some people have waited years to find stocks as attractive as current ones in these sectors.
2. You will find more staff and better qualified
Are you thinking of starting with the latest technology? There are many engineers waiting to be hired. Are you looking for better professional services? Hundreds of accountants and lawyers are looking for an opportunity.
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3. People want to switch providers
Many companies are eager to sign new contracts with companies that will give them a more innovative and efficient way to move their products and services.
4. As the owner, you are a believer in tax benefits
Owning a business entitles you to a number of benefits that employees do not have access to. While taxes should never be the only reason you should start your own business, it is one of the reasons that needs to be put on the “Do’s” list.
5. Family and friends can invest in your project
The main benefit is that they know you and have a relationship with you. So when you have a solid real-number business plan, your chances of getting the capital you need increase exponentially.
6. Providers grant better credits
The main benefit is that today, more than ever, everyone has incentives to find win-win relationships where cash and inventory can circulate. When the world tries to survive, very good business can be done.
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7. You achieve good public relations
The media loves success stories, and if you are optimistic about starting or expanding a business now, you fall into this category. So if you demonstrate your “alternative” point of view on the market crisis, you will get an engagement.
8. There are more auctions
You may find good deals at auctions, especially on large appliances and office furniture. Auctions are also great places to buy used or barely used restaurant and bar equipment, even cars and trucks, at great prices.
9. There are good business offers that are up and running
Many small business owners or commercial property owners want to get rid of them at all costs. You may find a good opportunity to turn around what, well run, can be a very profitable business.
10. You have lost your job and you have to do something
There is nothing wrong with being in this situation where thousands of companies around the world are downgrading. It simply means that there is more urgent need to do something as soon as possible to generate income.