So, here are three reasons why our economic downturn can be your economic windfall.

1. 1. Most companies are laying off their talent: While most big companies are laying off their employees you could be taking full advantage of those unemployed resources. All of those employees are now looking for jobs and bringing them in to work on your projects, on a temporary or contract basis, could help you gain a competitive edge that a start up company would have never had in a strong economy.
2. 2. Most established companies are cutting costs: The economy may be in a full recession, but it hasn’t stopped. The business train is still leaving the station, and if everyone else is cowering in the corner, you may have a whole car to yourself. Major companies are cutting budgets for divisions that help them grow, primarily the R&D departments. This benefits you as a start up because you are your company. You are much leaner as a company right from the start, giving you more room and flexibility for developing your product. With the big companies burying their heads in the sand and waiting for the economy to get better, you could be making product advances that will put you ahead.
3. 3. The cost of doing business is going down: In an economic downturn, the best way to be recession proof is to operate your company as cheap as possible. Fortunately, that is exactly what you should be doing with a start up business anyway. The immediate cause of death in a start up is running out of money. So the cheaper your company is to operate, the better its chances are of survival. And fortunately for entrepreneurs, it has gotten very cheap to run a start up and with everyone feeling the pinch of the economy things like rent, supplies and even employee salaries are becoming more affordable.

An office space for rent doesn’t make the landlord any profit if it is empty. In fact, it will cost the owner money every month it remains empty. And job seekers cannot afford to hold out for the higher paying offer when money is tight and few are hiring. This gives you, the entrepreneur, a chance to get top shelf space and employees at bottom shelf prices.

So maybe there can be a silver lining to this recession for startups and small businesses. If you have a good idea, a sound business plan, and a strong will to survive… working for yourself may be your chance to get ahead.