We are a nation of brave men and women.  It is this bravery that has created the wealth we enjoy.  And our continued prosperity depends on brave men and women taking a chance and starting their own businesses.  Small and innovative businesses are the backbone of our economy.  Commerce Department data shows that small companies represent 99.7% of firms with employees and that small companies have generated 60%-80% of net new jobs annually over the past decade.
     Did you know that this bravery, this willingness to take risks and become entrepreneurs was evident at the founding of this great nation?  George Washington started one of the largest whiskey distilleries in the new nation.   Benjamin Franklin was an inventor, and Thomas Jefferson has his own business as an architect.
     There never seems to be a “good time” to start a business.  No one ever has enough money to start a business, enough time to start a business, and few have the good fortune of starting their business when times are booming.  Usually when times are booming it's easier to find a job than it is to take the risk of creating one’s own job by starting a business.
     However, being out of a job, not being compensated enough to provide for your family, or being underemployed may be enough of an incentive to start your own business.  Look at this list of start-ups that opened during a down economy:  Burger King, MTV, CNN, FedEx, Intel, and Microsoft.   I started my first business right out of graduate school – it was a down economy and all I had was debt.  So, I had nothing to lose (with the exception of opportunity cost of a regular salary).
     Recently the Kauffman Foundation disclosed that more than half of the 2009 Fortune 500 companies were launched during a recession or bear market.  Keep this in mind when you worry that now is not a good time to start a business.  If entrepreneurship is for you and you are one of the brave, then now might be a good time to start your business.  After all, your potential competitors might be hunkered down thinking that now is not a good time to start their business!