Been thinking of starting your own business for a while? While it may not seem like it, now is the perfect time to set up on your own.
The global pandemic has forced many people into unemployment. While many businesses may be reluctant to take on new staff right now, there’s nothing stopping you going it alone.
Here, you’ll discover why now is the perfect time to start a business.
You have lots of time to come up with a plan
If you have been made redundant or furloughed during the crisis, you’ll have a lot more time on your hands than usual. When you’re employed, it’s hard to find the time or the energy to set up a business during normal times. So, why not take advantage of the extra time you have by researching self-employment?
You’ll find a lot of helpful advice online for starting a business during the pandemic too. So, use your time wisely and start coming up with a plan today.
You’ll face increased competition for job roles
Over one million people have found themselves unemployed due to the coronavirus crisis. This means there is going to be a lot more people applying for the same jobs right now.
This can make it really difficult to secure another job quickly. So, setting up by yourself is a great alternative. Also, you’ll have access to a larger talent pool for your start-up due to the number of unemployed right now.
You can take advantage of funding
In order to help businesses and start-ups, the government has set up a number of financial schemes. You may be able to get thousands of pounds to help towards funding your start-up.
Even without government help, you can take advantage of small business loans. Companies are still providing funding to businesses in order to help keep the economy going.
Some of the biggest brands started in a recession
If you want to start a business but you’re scared of doing so right now, look at some of the largest companies for inspiration. Did you know many of the well-known brands you know today started in a recession? Microsoft, Burger King and FedEx all started off in difficult times.
These are just some of the reasons why now is the perfect time to start a business. By setting up by yourself, you’ll have the opportunity to achieve a better work and life balance.