Saturday, March 29, 2008

Why you should start your startup BEFORE the recession ends

Think the recession is a good reason not to start a business? I think you're probably wrong. In a post at The Industry Standard, Melissa Chang nails down Five reasons why a recession is a good time to start a company.

A recession is actually a great time to nurture and incubate a small company. Here are five reasons why:

1) A recession forces founders to be frugal. Starting a company without a lot of money is an excellent discipline for entrepreneurs and for every early-stage company. While it may feel painful to track every dime, the lessons that frugality teaches are invaluable. Having limited capital leads to creative thinking, healthy deliberation about expenditures, and the need for founders to pay very close attention to cash flow, budgets and balance sheets.


Read: Melissa Chang

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