Start a new business in 2010 in the middle of a recession? Are you totally out of your head, nuts, crazy?

The minute you open your mouth you will probably crumble under the weight of naysayers, who without a doubt are being genuine in their advice to you.

The fact that you are opening your mouth at all means that you have an itch that needs scratching, there is some enterprising spirit inside you that is just waiting to break out, some independent streak that makes you want to be master of your own destiny. It could be as simple as you are out of work and you just want to make things happen for yourself.

Well done, so what do you do?

As an accountant who came away from the “darkside” and joined the world of Marketing & PR after a long period in general management I can offer  you my tuppence worth of advice and a few do’s and don’ts .. (should I put in a disclaimer here?)

It’s a great time to start a new business because....

1.    Who else can you depend on today to put bread on your table?
2.    The smaller you are the less overheads you have – customers can get a great personal service
3.    The cost of entry is smaller than it has ever been
4.    The local agencies such as the Enterprise Boards offer Mentoring, Training and other Supports, which really help people  get on their feet
5.    With the whole new world of the Web and Social Media including Facebook, Twitter, LinkedIn and so on, the small guy can actually compete with the big guy
6.    The Press love positive stories and will more than likely be happy to give you some coverage, free!
7.    You would be surprised how many people out there will give a new business a chance (everyone loves a Trier!)
8.    You will love the sense of achievement from the feeling of doing it for yourself; it’s liberating
9.    Being your own boss is great
10.    It’s a whole new world, once you cross over to the other side – network with others like you.
11.    It can be great fun

On the cautionary side, which is very real....

1.    Only do it once you are truly ready – while the cost of entry is lower than before make sure you are in a position to make a great first impression, looking the part from the very start
2.    Run your business idea by someone knowledgeable with a positive nature that you know will give you honest advice – not all ideas are great ones!
3.    Make sure your business passes the recession test – the luxury type products and services are suffering at the moment. It might be a case of wait a while for these types of businesses
4.    Be practical – do your pessimistic financial plans and make sure you have enough cash to pull by, in particular in the early stages. That financial pressure is horrible, I’ve been there more than once ..
5.    Once you make that move you will never be able to work for someone else again!

So, did you always do what you are told?

Didn’t think so.. enjoy the ride, our economy needs you and more like you!