If nothing else, the year 2020 provided us with a unique opportunity to focus on what’s truly important to us. Whether you were an essential worker, quarantined at home, unemployed or juggling full-time work while managing virtual learning, we all gained some perspective over the course of the year.
Perhaps you’ve honed your hobby into a marketable product or discovered your line of work is not fulfilling anymore. Or maybe it just feels like the right time to pursue your dream.
2021 is looking like a great time to start your own business and here’s why:
Times are A-Changing
It’s clear, the pandemic has shifted countless things. A work/life balance became mandatory for many as schools closed their doors and employees were sent to work from home. People’s needs changed and the demand for online services skyrocketed, even for those whom had never used them previously. Many in-person shoppers swore off their traditional shopping habits and are loving the convenience of order pickups. And virtual options for entertainment and socialization became more necessary than ever.
With our lives tilting in a new direction, plenty of new business opportunities are being born every day. Maybe your idea to correct an inefficient system is just what the world needs.
Talented Workers for the Picking
Unfortunately, many talented people lost their jobs during the pandemic. Countless businesses didn’t have the income needed to stay afloat and had to let reliable, hardworking staff members go.
However, that means there is a field of very experienced and qualified candidates just waiting to help launch your business. Who knows, these eager, seasoned employees might just end up mentoring you as you build your business together.
Interest Rates Are Low
Securing a small business loan is more approachable than ever. Rates have remained low for quite some time and The Federal Reserve does not plan to increase them for a few years. That means your new business could gain momentum faster than ever with extra cash in your pocket to invest in your startup.
As you mull over your options, think about how your life has changed recently. What new subscriptions and services have you added? How have your shopping behaviors changed? What holes do you see in the new ways businesses are operating? Chances are, there are thousands of people who are changing their habits in the same way you have and are wishing for better solutions. You could be the one to provide them. This could be the year. The year your business idea becomes a reality.