5 Reasons to Start a Business in a Recession

1) Forced unemployment or redundancy
If you’re unemployed, then great – you have no other demands on your time.

If you are employed, especially by a big company, then there may be a redundancy package on offer. So not only can you leave and get up and running with your new business – but you can do so with some cash.

2) Cheaper Advertising and Marketing
Due to less demand, you’ll be able to advertise your new business venture at much lower rates now than this time last year.

3) More talented people
A year ago, it was very hard to find good people on the job market. Now the situation has reversed and there are lots of people – talented people – looking for work.

4) Lower salary expectations
It’s competition that drives up prices. There are less jobs available hence less competition to employ people. So the salary you need to pay to get good staff is lower than it was.

5) Companies looking for more value
Due to money being tighter, companies are more willing to change suppliers if you can offer them better value for their money.

So stop thinking about starting a business and go and do something about it.