The perfect time to start a business is right now!
The best time to begin a new business venture in Australia is right now! Starting a business is never easy. A whopping 90% of new businesses in Australia fail within the first 5 years.
We put off starting a new business because we:
- Are afraid of change,
- Are risk-adverse,
- Are afraid of the unknown,
- Crave security.
You might think that with the current pandemic, recession, and job losses; now is the worst time to start a business. The opposite is true.
Now is a great time to begin a new business because:
- It is unfortunate that so many businesses are struggling and closing but it’s also an opportunity for new business as there is less competition in the market.
- Unlike established businesses, we can assess the current market conditions for new opportunities and entries to market that were not available pre-pandemic.
- The government is offering huge tax concessions to business.
- There is an excess of highly skilled labour available with recent job losses.
- Labour is very reasonably priced in comparison to pre-pandemic as employees are willing to take a pay cut given the current conditions.
- There is no better way to support the Australian economy, create jobs and get the country out of recession than to start a business.
- New businesses are typically innovators. The Australian economy needs innovation and the creation of new industries for future growth.