The past 18 months haven’t been easy for anyone and millions of former employees from various industries are actively looking for jobs. Millions more are still employed, but unsatisfied with their career for a variety of reasons. For a portion of these people, the idea of starting a business of their own has great appeal. However, it’s hard to imagine an economic environment like this one being a good time to start a business. Credit is tight, spending is down, and many potential customers aren’t in a position to start spending anytime soon.

While these facts need to be considered, there are also advantages to starting and building a business during a recession that should be considered, and the time to take advantage of these opportunities may be running out. Here are three reasons why this is an attractive time to start a business.

- Your Competition is Struggling: There are very few businesses that have thrived over the past two years. Many small businesses have not survived the recession and those that have are likely hanging on by the skin of their teeth! There is market share to be taken in any industry and customers are willing to talk to new providers of the producers of goods and services that can benefit them. Your competitors are in hiding now but they won’t stay there forever. While everyone else waits for a “better time” to start a business, use the end of 2009 as a head start to build momentum for a prosperous 2010. Starting a business isn’t easy in any economic environment but your chances of success improve greatly when your competitors are hurting.

- You Need An Emotional Lift: Let’s not forget that this has been the worst recession since the Great Depression! Put in perspectives, the last few recessions have paled in comparison–the recession of 2001 saw unemployment hit 6% and then job growth began again. Starting a business and devoting yourself to something positive and fulfilling will produce a much higher level of satisfaction than sending your resume out to everyone with a want ad in the paper and waiting for a call. You’ll wake up every morning with a purpose and a mission to grow and nurture your small business. Doesn’t that sound better than continuing to fight other job hunters for a job you aren’t excited about anyway?

- You Will Enjoy The Benefits Of Business Ownership: Fast forward a few years to when you’re running a successful business and think about the benefits of being a small business owner. No more clocking in or out, no more micromanaging from middle managers, just day after day dedicated to improving yourself and your company. With your own business, the sky is the limit when it comes to income potential. The harder you work, the more money you can make. And maybe the best benefit of all, you won’t walk in to work after years of loyal service to find a pink slip on your desk!

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Tags: business ownership, recession, Small Business, unemployment

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