This Is The Right Time

..... to start your own business and here's why:

Most things are cheaper
Let's face it: There is great value right now. This is the right time for fantastic deals in everything a start up needs, from office equipment to office space from vehicles to personnel.
It is a good idea to keep your eyes on auctions and liquidation sales. There are some fantastic deals to be got. More info here: http://www.eauctions.ie/pages/home.php

You can hire more and better-qualified people
In an era when Intel and Dell are laying off staff, you can find great people at affordable rates. Whether your start up is a high-tech or a professional services company there are plenty of professionals looking for their next opportunity. Some of them may be interested in a share of your venture for reduced rates (providing your business plan is strong enough and they see potential in your venture).

Companies are open to changing suppliers
From a cost perspective, everything is on the table for most companies. If your prices are higher but you offer better value for money, you have a good chance at winning new business. Many companies are looking to find new partnerships with new companies that have a more innovative way of delivering products and services.

Ownership equals tax incentives
Business ownership offers a variety of tax benefits that aren't available to employees. The following are new reliefs/incentives for Irish companies:
If the business is a new start-up company which commences to trade in 2009 it should be exempt from corporation tax, including capital gains, in each of the first three years to the extent that their tax liability in the year does not exceed €40,000.
If a company is engaged in research & development (R&D) activities, then the rate of tax credit is increased from 20% to 25%, i.e. 25% of the qualifying R&D expenditure can be used to reduce corporation tax of the current year and the preceding year. Where there is insufficient corporation tax in the current or preceding year, the R&D credit may be claimed in the form of a refund. Care must be taken as a new time limit is imposed - claims must be made within 12 months from the end of the accounting period in which the expenditure on R&D giving rise to the tax credit was incurred.
Where a business incurs expense in respect of purchase or hiring of a motor vehicle; 20% of the VAT charged may be deductible in calculating the amount of VAT payable to Revenue in that VAT period. The car must have been first registered after 1 January 2009 and meet specific emissions standards. The car must be used primarily for business purposes, i.e. at least 60% of the use.

Family and friends nervous of property / stock markets
That means they might be willing to finance a portion of your new venture, or the expansion of an enterprise that has proven itself over time.

There are great low risk opportunities out there at the moment
Some small business owners want out at any cost, meaning you can negotiate great win-win deals that allow the current owners an escape while giving you an opportunity to turn around what could be, if run right, a very viable business.

You've lost your job, and you have to do something
The need for income and the need for something to do is often enough to push those of you previously "on the fence" to strike out on your own. There is support available to start ups, in the form of courses and business mentors, available through County Enterprise Boards. You can connect to the Irish start up community on twitter http://www.twitter.com/ and Linked In http://www.linkedin.com/