There’s a large talent pool because a good number of people are losing their jobs and others are moving to new industries, and choosing to work and live rather than to live and work. 

Advancements in technology makes everything from lifestyle to business much easier. There are already noticeable changes to the way people work and, over the coming years, there will be huge improvements to this.

Remote work, an emerging business trend, is leading many companies from a physical and sometimes manual work environment to an automated, over-the-air environment. This approach minimises the cost of running a business so you can imagine why entrepreneurs love it. 

Russia’s invasion of Ukraine, the hard-hitting recession, and the trailing hurt from the pandemic have crumbled a lot of economies and pushed several businesses out of operation. 

All of these four points above represent notable, valid, and wide-scale reasons why this is the best time for founders. They highlight global events, and they take into account the impacts of these events. Furthermore, they shine light on developing trends and the economic effect of these trends.

Now Here’s How These Events Create The Perfect Scene for Startup Founders

Before we go into details, let’s talk about the connection that exists between some of the points we mentioned above.  

The Russian-Ukrainian war is still raging on even though we wish that it had stopped. This war has succeeded in creating massive shortages of food and fuel in other parts of the world. 

The supply issue, coupled with the already-existing recession and the negative impacts of the pandemic, is contributing significantly to the poor economic situation across the globe. This creates high unemployment rates which means an increasing job insecurity among employees. And what happens when a lot of people lose their jobs? A large pool of talents forms. 

The following is a proper description of each point listed in the other section above:

Your Business Competitors Are Out of The Market or Having a Difficult Time 

Athletes in a long distance race all perform differently. Some make a powerful, consistent sprint; others do well at the beginning but wear out along the line; and a few others start out poorly. 

The exact same thing that happens to athletes also happens to businesses. Some start strong and maintain a solid performance all through the time of their existence, others start strong but begin to perform poorly after sometime, some others start poorly but get better and bigger along the way, and lastly, some businesses start off poorly and are unable to rev up their performance at any point. 

But whether a competitor is performing well or not, the truth remains that it is battling the unfavourable economic conditions just like every other business. These conditions have been created by the Covid-19 and the long-lasting recession. More recently, the Russian-Ukrainian war has come to present another major challenge. 

All three challenges add to recruitment, employee monitoring, adaptation to trends, and many other difficulties which businesses already had on their plates. Startup founders can observe the issues which their would-be competitors are facing in order to position their own businesses in a way that gives them an edge. 

There’s a Lot of Tech To Save The Day 

If you’re a tech enthusiast, then you’re probably happy to be alive at this moment in time. A number of great technologies existed in the late 1900s. In the early 2000s, this number increased. Now in 2022, the tech industry has basically exploded into something more advanced than we’ve ever seen. 

The long list of technologies used by businesses today includes cloud computing, cloud storage, advanced networks, intelligent control systems, supercomputers, and even customer relationship management (CRM) systems. 

Another technology which is witnessing breakthrough applications in business is artificial intelligence. A.I. is typically being used for process automation, predictive analytics, natural language processing (NLP), and a whole lot more. 

A Chinese game company even went the extra mile to appoint an A.I. as its C.E.O. Even though it is the first time this is ever happening in history, the company speculates that the development will bring a much-needed organisation to the team. 

Talents Are Everywhere, Just Everywhere

If there is one thing the recession and widespread unemployment offers founders and employers alike, it is a pool of professionals sitting and waiting to be hired. 

Businesses all around the world are switching to a remote work environment. While this happens, there have been new job opportunities, especially in the cybersecurity and cloud computing fields. However, despite these new opportunities, a lot more people are losing their jobs than getting hired thanks to the turbulent business conditions. 

This creates the large pool of talents we’ve been talking about. 

In this pool of people are professionals or highly-skilled workers and less skilled or unprofessional workers. Variety of this nature offers an opportunity for founders to hire workers no matter the size of their budget.

You Can Simply Launch Your Business Online 

Launching a business is now easier than it used to be. Here’s why we say so. Up until a few years ago, founders only had the option of acquiring a physical location for their shops and business offices. They also needed to run around in search of warehouses or storage facilities for products. 

Those years are long gone now. Today, founders can start their businesses by first launching it online. This is all that’s required to kick off an online business like the virtual stores on Jumia, Ebay, and AliExpress. However, for businesses that require a physical structure, first launching online would be a good way to appear visible to potential customers and investors before the main launch. 

And there are more benefits than early visibility - many more for that matter. One of them is that setting up an online presence can be done in a few clicks. Another is that it costs little to nothing to get it done from start to finish. 

Conclusion

It’s easy to fall among the group of people who think that now is not the right time to start a business. But is this really the case? The answer is no. 

Even though the business situation out there is stifling, experienced founders know that difficulties are not impossibilities. They know that challenges are an opportunity to learn. And they also know that overcoming their  business challenges will contribute to making outstanding achievements. 

These and the four points which we dissected should get you juiced up to kick start your dream business. You can also check out other useful articles on our blog if you encounter any challenges. 

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