Five compelling reasons to start a new business now

It may sound risky, but there are many sound reasons to start a new business venture at the first glimmer of an economic recovery. Analysts remind us that most recessions in the past century have lasted an average of 10 months, followed by cycles of growth that last from 30 months to four years. Most believe the next growth period is about to begin.

“Indicators continue to predict a recovery in the next quarter,” says Brian Coupland, director of innovation at Staples Canada, a retailer on the pulse of business trends. “Our nationwide surveys, conducted by Angus Reid Strategies, show that nearly three-quarters (74 per cent) of Canadian small businesses state that their productivity has held steady or improved in the past three months. So, for those who have an entrepreneurial dream yet to be fulfilled, the timing seems to be right now.”

Here are few more of the most important reasons to do it, courtesy of Staples Canada:

1. Reduced costs. The recession has kept pricing down on practically everything, so this is the time to get the best deals for the start-up, from land and equipment to loans and office space and labour. Many markets, including real estate, heavy equipment, technology, health, tourism, and more, are poised for renewed activity.
2. Abundant, low-cost personnel. Cutbacks and lay-offs in the past year have created an attractive resource for skilled and qualified people, each one looking for an opportunity to help a new company grow.
3. Doors are wide open. Dormant businesses are looking for a fresh approach, eager to toss out the old stale way of doing things with new ideas and with more innovative partnerships. This is the time to knock on every door with your win-win strategies for bigger, better ways to deliver products and services.
4. Cooperative wheeling-and-dealing. The near-death of many businesses has created an incentive to play fair with partners and suppliers. When sheer survival is on the table, great deals can be hatched.
5. Takeovers. Somebusiness owners want out at any cost, so you could acquire an entire business (along with property, leases, equipment and personnel) and run it more successfully in a better, growth period.

Coupland suggests that if you need some practical information and tips on how make your business a success, be sure to ask about the BizLaunch seminars at your neighbourhood Staples. Scheduled free-of-charge on weekday evenings, these seminars teach ready-to-apply ideas for marketing, accounting, branding, business planning and more. As many as 4,500 entrepreneurs have already attended more than 400 seminars and more information is also available at www.easy.staples.ca.