Top 10 Reasons to Start a Business in a Recession

By Brad Sugars of Entrepreneur.com



Do you have one good reason to start your business right now?

How about 10?

Regardless of what people around you (including the media) may say, right now is the best time to get into business. Just go back and look at the economic slowdowns throughout history. Most recessions in the post-World War II era last an average of 10 months, followed by growth cycles that last an average of 50 months.

What this means for the start-up is there's no better time than right now to get going and start pursuing your business dreams -- in anticipation of the next period of growth.

So with a nod to David Letterman, here are my top 10 reasons you should start your business now -- despite the current downturn:

1. Everything is cheaper. Let's face it: There is great value right now in this and in world markets. This is the right time for fantastic deals in virtually every category, from land and equipment to commercial office space, personnel and labor.

As asset prices have been knocked down, there is no better time to get into the real estate or financial markets, or even heavy equipment and construction. Some people have waited years to find value in these markets -- and now that time has come.

2. You can hire more and better-qualified people. In an era when even Microsoft (MSFT Quote) is laying off, you can find great resources at affordable rates. Thinking about getting your high-tech start-up off the ground? There are plenty of engineers waiting to be hired. Thinking about forming a professional services firm? There are many accountants and attorneys looking for their next opportunity.