How entrepreneurs are leveraging benefits during a recession to start their own company
Another industry expert is offering advice to individuals gearing up to start their own businesses - and saying that despite a down economy, many entrepreneurs will succeed.
Ylisa Sanford Seymour, an Ameriprise financial advisor told U.S. News and World Report that while there is some risk associated with launching a small business anytime - but also during a recession - now can be a "really great time to start a business."
According to Seymour, the down economy offers new business owners a number of benefits unavailable in more bustling times. The lower cost of leasing prime real estate may give new entrepreneurs an advantage in where they locate the business.
Also, Seymour says that the depressed labour market means that more talent is available for hire, and likely at a lower cost.
An article earlier this year in PROFIT magazine echoed Seymour's labour theory. The article advised start-ups and other small businesses to grab top talent while they are available and be creative in forms of compensation.
Many people will be willing to work part-time, as a consultant or even for less money, said the article.
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