This is probably the best time to start a new business in many years.
We now have Moody’s down grading the UK to AA1, but the junk bonds got a AAA. So investing into the UK has become cheaper as the pound is now less expensive against the dollar and the Euro. This means exporting products and services will be more competitive later.
Firstly there is a fixed attitude of looking backwards at the problems created by the banks stupidity, USA’s over borrowing, Euro’s finance problems and all the other doom and gloom. The reality is, those things do not matter to an entrepreneur starting a business, they are historic, they do not apply to a business starting out, because those issues can be factored in to the planning process.
We have extremely low borrowing rates, so capital for those with good credit is cheap.
Next is the new technology that will change the marketplace and make many things cheaper, 3D printing. Already there has been sell off of some companies that rely on their creations, but what is bad for their profits will be good for the consumer as prices will become more competitive.
Taking an idea and turning it into profit is not as simple as it first seems. The real issue for start up companies is getting the right Board of Directors to plan their growth by allowing these experienced managers to control and build the business with certainty and with all real issues addressed.
So if you are starting out, take on an experienced board and let them help you plan your success.