5 Reasons Not to Start a Business in 2021

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Starting a business at any time can feel discouraging, but it can be especially challenging during a worldwide pandemic. Many aspiring entrepreneurs are putting their dreams on the backburner until the economy is in a better place. If you're unsure whether you should start a business in 2021, here are some sure-fire reasons not to pursue your entrepreneurial journey this year.

1. You can’t seem to choose between the countless new market opportunities inspired by COVID.

The COVID-19 pandemic has been a challenge for many business owners, but from the chaos has come countless new market opportunities. Some examples of thriving businesses include e-commerce shops, at-home fitness brands, vitamin and supplement businesses, grocery delivery services, and more. From the number of options available to you, you shouldn’t have any problems choosing a sustainable business idea you can pursue during the pandemic. However, if you still somehow can’t find a promising marketing opportunity or a pivot to your original business idea, you might want to sit this year out.

2. You're unwilling to embrace the convenience of remote work.

Remote work is becoming the “new normal” for most businesses. While managing a business and a staff remotely isn’t an easy task, it can be a convenient way to start a business. For one thing, you can save money working from home rather than renting an office space. Additionally, you can transition from your day job to your career as a business owner in a more efficient and balanced manner. But if you’d rather pass up the opportunity to pursue your dream while still in your PJs, maybe wait until the world reopens (whenever that may be).

3. You don't want to hire employees from today's talented workforce.

Because so many people have been laid off during COVID, there’s an eager and talented workforce actively searching for jobs right now. This is your best chance to recruit valuable employees while helping stimulate the economy and provide financial relief to struggling individuals. Unless you want to miss out on today’s large pool of talent, you should consider launching your business right away.

4. You're uninterested in engaging with consumers online.

Social media has made it super easy for brands to connect with their customers — especially during the pandemic when everyone is stuck at home. If you want to start your business this year, you’ll want to focus your marketing efforts on social media to cultivate awareness around your startup. However, if you’re completely uninterested in utilizing this amazing tool, perhaps now just isn’t your time.

5. You'd rather wait until there are more competitors in your market.

Because countless businesses had to shut down or scale back during the pandemic, many markets lack the competitiveness they once had. This opens opportunities for new entrepreneurs to make their name in their industry without worrying about getting overshadowed by existing businesses.

Despite popular belief, entrepreneurs can actually take advantage of this gap and launch their startups when the economy is at an all-time low. If you’re a go-getter who’s seeking a less competitive start, now is the perfect time to pursue your business. However, if you’d rather have the challenge of competing with an overwhelming number of similar businesses, perhaps you should hold off until further notice.

For more information and resources for aspiring solopreneurs and small business owners, head on over to www.mydreambridge.com.

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