Is Now the Best Time to Start a New Business?

I am often asked if these are good times for new enterprise opportunities? Should I wait? Is the economy down? Is it a good funding market? Is competition too intense? These, and dozens more stated concerns are nothing more than self-imposed hurdles to movement.

Now is the best time in history to start a business, launch a product or offer a cutting edge new service. More people than ever before have jobs. More people than ever before own homes. More business incorporations are established each year than the previous year. Global prosperity is galloping along, with formerly poor countries like China, India and Malaysia, seeing spectacular growth (potential new customers for new products and services) in the middle class.

Much of what I just stated might seem at odds with the media presentation of a struggling economy. The mass media knows that bad news sells. It is in their interest to report the problems of General Motors, layoffs, health care benefit cuts and downsizing while ignoring the spectacular growth of jobs and small business more than making up for the fallen old lions of industry. Mass media has a goal of keeping readers on edge; uncertain about the future and discontented. Pay no heed, do your own research on current market conditions if this is a concern.

The opportunity to successfully start a small business, market an invention or new service is always dependent solely on the value, novelty and benefits of new offering. If there is an under-served market segment and you can identify a niche in a large market category, the time is always right to move ahead.

For many years I called on large national department store chains. Buyers always had a reason why now was not a good time to place an order.