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Six Reasons Why Now’s The Time To Start A New Business!
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By Ron Kustek
f you’ve ever thought about starting your own business, now is likely the BEST time to be taking that leap forward as an entrepreneur! Though it may seem counter-intuitive, history will show you that after the 2001 recession, and especially after the 20082009 recession, that new businesses began to increase (Source: US Bureau of Labor Statistics). Given the short 2020 recession caused by the pandemic and tremendous loss of jobs, we are likely poised for another resurgence in the creation of new businesses. There are a number of key reasons for this new small business growth potential, and some of these reasons didn’t exist in combination with each other after past recessions. These are the “Top 6 Reasons” why now may be the best time to start your new business: 1) Support of Local Businesses Post-pandemic. Across the nation and especially in Santa Cruz County, a strong community exists to support independent business owners. Everyone is aware that the past 18 months have been especially difficult for small business owners, and many want to support their local business instead of Amazon or large chains which likely had better financial resources to weather the storm. 2) More Affordable Rents. Sadly, many businesses closed during the pandemic
and many landlords have lost tenants and their rental incomes. Though many landlords are also often small business owners, over-supply & demand has been bringing rents lower. Since an empty storefront produces no revenue, smart landlords are finding it’s better having a bit less monthly rent coming in vs. no rent at all. 3) Low Interest Rates. Interest rates have been at an all-time low, and will likely remain low through the end of 2021. As we’re now seeing the Delta variant wreak momentary havoc on the recovery, continued low interest rates makes it more attractive to take out a small business loan or a line of credit. This will help your cash flow now and in the future, as well as save you hundreds if not thousands of dollars on your loan repayment! 4) Available Employees. According to the Bureau of Labor Statistics, the Santa Cruz-Watsonville community has a 6.7% unemployment rate (May 2021) which is down significantly from the January 2021 rate of 8.7%. But those who are weighing the challenges of returning to work are also looking for fair wages. Businesses are competing for workers, both skilled and unskilled, and the one thing both have in common is earning a living and being properly compensated for
their time, efforts and risks they’re taking by returning to working with the public and fellow workers. 5) New Opportunities For New Ideas. Think of the new ideas which have been created in the last 18 months, many as a result of the unprecedented global pandemic. As we’ve all had the
“New Business” page 26
Back to School
ACROSS
1. *____ mater 5. *Graduate degree, acr. 8. Opposite of stereo 12. Defense ditch 13. Fishing rod attachment 14. More sure 15. One’s final notice 16. Dutch cheese 17. Golfer’s traction aid 18. *Half-year terms 20. At the summit of 21. Water nymph 22. Actor ____ Mahershala 23. Be a busybody 26. Metrical foot in poetry 30. Earlier in time, archaic
6.9% in June 2021
time to do more online shopping and become better aware of all the changes and developments over the last 18 months, the next 18 months should also provide the same fertile ground for your new idea!
31. Become bony 34. Shakespeare’s tragic monarch 35. Labanotation founder 37. Theodor Geisel, ____ Dr. Seuss 38. Threshold 39. Relating to the ear 40. Weather advisories, e.g. 42. + or - atom 43. Widely esteemed 45. Most mature, as in fruit 47. Indian dish 48. Dashboard window 50. Female sheep, pl. 52. *”The Breakfast Club” punishment 56. Flower holders 57. Singles 58. High school breakout
59. Acoustic output 60. Overwhelming defeat 61. *Gym class test? 62. Catchall abbr. 63. *Geography class staple 64. Not talker?
11. Table scrap 13. Laces again 14. Milan’s La ____ 19. Manicurist’s office 22. Is it ____ wonder? 23. Hard on outside, juicy on inside 24. One of the Muses 25. Payment option DOWN 1. ____ of cookie fame 26. From a great distance 2. Stud site 27. Chill-inducing 3. Cripple 28. Type of palm tree, pl. 29. Council of _____, city 4. *Go to class in Italy 5. Mythological princess of Colchis 32. *Back-to-School retail 6. TV cooking show event pioneer James ____ 33. WWII general who became President 7. Contributions to the poor 36. *Faculty member 8. *Kind of choice 38. “Peace” with fingers 9. Black and white treat 40. TV classic “____ in 10. Less than average tide the Family”
41. Superlative of true 44. Lowest male singing voice 46. Small bomb 48. Christopher Columbus’ birthplace 49. Consumed (2 words) 50. Small ladies’ handbag 51. What one does at the altar 52. *College freshman’s new digs 53. International Civil Aviation Organization 54. Half as much as twice 55. ____-do-well 56. Every American’s uncle?
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