An unstable economy and rising unemployment have left many desperate Americans looking for ways to r...

1. There's No Time Like Now to Start a Small Business
An unstable economy and rising unemployment have left many desperate Americans looking for
ways to ride out the financial storm. But despite the economic downturn, or because of it, Dave
Ramsey of Fox Business Network says that now is a perfect time to start a new business or to grow
your how do you start a business existing one.
"It's not the time for the feint of heart, but the good news is a lot of your competition's out of the
way. And the ones that are still opened, a lot of them are sidelined by their own attitude," he said on
"Good Morning America" today.
Why This Is a Good Time to Start
Although it might seem like a shaky time to start a new venture, the recession could be the push you
need to get started on a dream deferred.
"It's a wonderful time to expand your brand. It's a wonderful time to start into a business," Ramsey
said. "But you have to have the right attitude about how you're going at it. You have to be very
conservative and cautious and wise about how to do it."
Being laid off can be overwhelming but also empowering. Think of losing that job as an opportunity
to do something you've always wanted to do.
In Good Company
If you are nervous about starting a new business in tough times, take comfort in knowing that some
of the most successful companies, such as Microsoft, Hobby Lobby, Dell and Chick-fil-A, started out
during hard economic times.
Getting Started
Starting a business requires start-up capital, but not as much as you may think. Last year, the
majority how do I start a business of small businesses started on less than $5,000 cash, according to
the U.S. Census Bureau.
Whatever amount of money you start with, it is important that a new business owner not leverage
any part of the new business to get it. Thousands of dollars aren't necessarily needed. With a do-i-
-yourself spirit and a little elbow grease, there are thrifty ways to save on expenses. Business cards,
fliers and online advertisements, for instance, can be made at home.
The important thing is to stay out of debt when starting a business. If a business is in debt, it takes a
five-year plan to get out. Debt increases risk. If a business owner has not incurred debt, he or she
can more easily walk away from mistakes.
A Business Plan
You'll need a plan that includes what goods or services you want to provide and how you plan to

2. provide them. Local business bureaus can help you write a business plan and the U.S. Small
Business Administration offers information and resources that can help.
These organizations can also direct you to grants. There is money available to women and people of
color that sometimes goes unused because of a lack of awareness.
But the most important thing about starting a business is passion.
"I think you always, in small business, got to have something that you do that you really just love it.
You look forward to Monday morning. It is a joy to go in and do that," Ramsey said. "It's amazing
when you own your own deal. And you got to survive all the ups and downs."
Starting a business takes patience and determination. Most businesses fail in the first five years
because they lack a strong business plan and are in debt.
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