Is the best bet in this economy to start your own business?

It's been said that some of the best businesses were started in the midst of an economic downturn - what do you think? Is now the best time to be thinking about becoming an entrepreneur?

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Permalink Reply by William Keyser on November 5, 2008 at 8:20am: I agree. My first significant business was started in 1982 and many thought I was mad. But the only way was up. If your ingenuity can figure out ways to bootstrap your startup in a bad business climate, chances are high that as things turn around you will be in good shape to grow. Our capital was all 'virtual', cobbled together from many sources, including a 'royalty on sales' based loan, an 'interest-free transfer over a year' of assets from my previous employer, early settlements from the first clients, for example. Oh yes, and three good sales before the company opened its doors. Revenue and cash flow enabled us to pay the rent and the salaries of two employees.

All too frequently you hear people saying, "now is not the right moment", but now is always the right moment, except maybe in the case of heavily fixed capital dependent businesses, but even then it may be possible to start by selling services before the 'product' can be launched.; ▶ Reply to This

Permalink Reply by Major Mom on December 18, 2008 at 8:49pm: Henry Ford says it best when he tells us "Whether you think that you can, or that you can't, you are usually right." If you don't believe in it or yourself, no one else will.....We are our only invisible wall sometimes....have fun jumping the hurdles and enjoy the adventure of starting a business....just don't smash in to that invisible wall! :); ▶ Reply to This

Permalink Reply by Troy Williams on September 3, 2009 at 7:26pm: Hello Burke i am new to the forum and would love to share my business knowledge and help others get over procrastination.

Yes it is a good time to become and entrepreneur because if we hold out like most do now as they continue to listen to the news then we will never see our future as fear will kill every dream that you have and if you take action now you will be on top when the economy turns around. That i do believe is a fact so there is hope but peopel have to take action now...; ▶ Reply to This