According to a U.S. article, "Despite Coronavirus, it's a great time to start a business. Here's why" a recent survey from SCORE looked at the impact of Covid-19 on start-ups and found that although 43.9% of start-ups have a "wait & see" attitude about starting or continuing their business, 18.4% scaled up their plans & only 2.6% abandoned their business. All of which emphasizes the fact that are entrepreneurs are a self-sufficient and determined breed.

According to that same source, if you're thinking about starting your business, here are 3 reasons why now would be the time to do so:

1) Most of us have heard the saying, "When life hands you lemons, make lemonade," but bestselling author & entrepreneur Matshona Dhliwayo says, "When life hands you dirt, plant seeds." When downtowns such as the pandemic hits, savvy business owners learn how to bootstrap to survive. With a tighter financing environment, startups need to bootstrap more than ever and here are some suggestions they suggested:

  • Choosing a low-investment business to start
  • Starting your business from home
  • Buying used equipment
  • Holding virtual meetings instead of traveling
  • Using freelancers & independent contractors instead of hiring staff
  • Focusing first on the easiest & fastest paying projects to build cash flow

There is much availability of talent for start-ups, as of June 9, 2020 when their article was written, as 43 million Americans have filed for unemployment & many are looking for jobs.