Entrepreneurs, Here’s Why 2021 Is The Right Time To Start Your New Business


By Chastity Heyward | Forbes | January 13, 2021

The year 2020 came with its own share of problems. If there is one thing to learn from living through pandemics and lockdowns, it’s that a lot can change in a year. Many entrepreneurs started last January with high hopes and expectations for their businesses. However, many of those expectations went downhill as the year progressed. As with human nature, life moves on no matter what, so even though we were stuck at home for most of 2020, many businesses found ways to stay afloat.

As we move forward in this new year, entrepreneurs are looking to strategize and many are looking to start a new business. However, as always with a new business, uncertainties about the future are inevitable, but even more so with the recent events of 2020. Many are not putting too much hope into the year ahead, even with news of a vaccine’s arrival. Contrary to popular belief, 2021 could be a perfect year for starting your company. Here’s why:

Less Competition
Many companies that started 2020 on a good note have shut down due to the pandemic. Others that managed to stay afloat are just now restrategizing. This leaves a huge gap in the market and many opportunities for startups to thrive. Entrepreneurs tend to start businesses when the economy is buoyant and flourishing, and few will consider 2021 the year to launch a business as the world is just picking itself up after a pandemic that impacted most economies negatively. For entrepreneurs, having fewer competitors means one less thing to worry about.

Read the full article here.

By MIT Sloan CDO
MIT Sloan CDO Profile Picture