There are a great number of people today who see our economy as being the worst since the 1920′s, but I honestly believe five to ten years from now that perspective will change, and people will look back and realize that these were the years of the “Small Business”.
Reports for 2009 and 2010 have shown the biggest boom in small business creation in 15 years and I have a feeling 2011 will be no different – and in fact, I think we’ll see 2011 top the chart. Why do I think that? Simple. I am a small business, and while in 2005 through 2007 I gained my “biggest” clients, it’s been 2010 and 2011 where I’ve seen my “most” new clients added per year… most of them new businesses, started by folks who couldn’t (or wouldn’t) get a job working for a “big” business operated by someone else.
If there’s one thing that pushes people, it’s bad times. Bad times push people to get out of their comfort zone. Bad times push people to think outside the box. Bad times push people to do things they wouldn’t otherwise even consider, and one of those things is start a new business. I know this first-hand… starting a business is one of the scariest things a person can do. You’re putting yourself, your family, your reputation, EVERYTHING, on the line for an “idea” of success. Sometimes we make it and sometimes we don’t, but the amount of people who are trying because they have nothing to lose has increased significantly since the recession began, and a surprising amount of them are succeeding… and succeeding well.
I have few facts to base this on, other than some brief internet research time based on what I see from my desk and the clients I talk to, but I do believe I’m right, and we’ll see an improvement in the economy over the next few years, albeit slow. After all, it takes time for a small business to grow, and in a slow economy that could mean an even slower start… but this is the time for innovation. This is the PERFECT time for taking a new idea to fruition. With so many small business startups out there, there’s a need for services. There’s a need for product. There’s a need for support from the local community. And I’ve seen some brilliant ideas come out of even my own neighborhood! Small vans are popping up with new business names that are catchy and make me wonder, “Damn! Why didn’t I think of that?”.
Yes, these are the years where we need to take advantage and innovate. Get off the sofa and invent that product you’ve been thinking about for so long. Instead of spending money on a Gym membership you’ll only use for a month, spend it on starting your own at-home aerobic class and invite all your friends to join. Start bottling your specialty home brew and sell it. Become a freelance IT Specialist for all those new businesses who need their computers upgraded or fixed, but can’t afford to hire someone full-time. I don’t care what it is, but do something (!!) because now is the absolute best time. The economy is growing, so let’s see if we as independent entrepreneurs can keep it growing without the need of an ineffective Congress.
