If you’ve ever thought about starting your own business, now might be the best time to do it! What better way to stay busy than to become an entrepreneur! With more time at home around the ones that support you most, why not make your dream career a reality! We’ve listed 4 reasons why now is the time to start a business below.
- You likely have more free time
If you’ve been laid off or have been asked to work from home during the COVID-19 pandemic, it is most likely that you are spending a lot more time at home! With this being said, why not put all that extra time into something productive! Use the extra time to create a business plan, and to reach out to mentors that can help guide you on your journey to entrepreneurship.
- You have time to be creative
As mentioned before, spending more time at home means more free time! So now is the perfect time to be creative. If you don’t have a business idea in mind quite yet, read some books on business success stories and get the creativity flowing! You can also take to the internet to research some industries that will thrive regardless of the COVID-19 pandemic!
- Marketing is less expensive
With more and more larger scale businesses losing revenue during this time, marketing services are being used less often. This means that ad rates and marketing service rates are decreasing which could be a good thing for new entrepreneurs! Marketing is important especially in the beginning stages so take advantage of the inexpensive marketing rates.
- Your competitors may be struggling
Unfortunately, lots of businesses worldwide are struggling during this time due to the loss in revenue and continued fixed expenses. For new businesses, this means that the barriers to enter specific industries are less restricting! With larger-scale competitors struggling financially, this could be the perfect time for smaller businesses to step in!