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Open my own business ... now?

Often times, the monotony of punching the clock as someone else's employee leads to day dreams of starting a business and being your own boss. In rough economic times, those day dreams may never pass beyond imagination. "Times are tough,

By Joseph Cardamone | Updated on November 26, 2008

Often times, the monotony of punching the clock as someone else’s employee leads to day dreams of starting a business and being your own boss. In rough economic times, those day dreams may never pass beyond imagination. “Times are tough, how could I start my own small business now?” one thinks. That’s rational thinking, but, counter-intuitively, a down economy can actually create great opportunity for budding entrepreneurs.

There are a variety of benefits to starting a small business during poor economic conditions. For starters, office rents could be lower and suppliers may cut better deals. Downturns are a great time to sign new accounts. Customers are examining every expense for ways to save, including asking eager entrepreneurs for price bids in order to replace current and expensive vendors.

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