Should You Start Your New Business NOW?

Let’s scroll back four months – maybe five. You planned for 2020 to be the year you finally put your business out there into the world. You had the business plan finished, you were waiting on finance from the bank (and you got it!) and you were just about to look at properties for commercial lease. And boom – COVID-19 happened. The world went into pandemic mode, lockdowns began worldwide and the gates for all sorts of countries slammed shut.

There are people now unemployed due to businesses failing in the wake of Coronavirus sweeping the planet. Trying to find premises for your business just became ten times harder because lockdowns rocked the real estate world, too. Searching for the right insurance to cover you during a pandemic is hard, and while there is research to be done on companies like Grace Insurance, you need to find something that will back you up if you want to get going. Launching a business right now might sound like a crazy idea – but we have some of the best reasons you should just go for it!

Young troubled woman using laptop at home

Image source: Pexels

  • You May Be Coveted

If your business was in creating face masks, or hand sanitizers, or offering food delivery services, you are coveted. Your business is going to be needed in a time of crisis, and if you can start a business to meet a need, you’re going to thrive rather than fail.

  • You Can Get Small Business Funding

Believe it or not, economic disruption shouldn’t prevent you from gaining access to small business funding grants and loans. The world NEEDS you to have something to give back to the economy to keep it going. We may all be headed into a global recession yet again, but that doesn’t mean that you can’t borrow if it is going to be obvious you can make a profit.

  • You May Be Able To Innovate

If your business is going to allow you to innovate at this hard time, you are needed by the world. The average income for a small business owner right now is just under $70,000 per year, and that can be pumped back into the economy. You can do more with your business and give back a little, and you can keep the economic wheels turning.

  • You Can Offer Work

With the number of people unemployed right now, the country needs you to be able to hire people. People need to work, and you can offer work to those looking for it. You have to have a business that is able to get off the ground, and if you can expand and hire new employees, you’re going to help people to avoid financial ruin while boosting your business at the same time.

It may not feel like the right time to start a business, but we’ve given you enough reason to see that actually, now is the best time to get started. You could solve a problem, and you can be part of a solution.

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