This will be my second expansion during a recession and there is no better time to start or build a business. You’ll be smarter, leaner and ready to really grow when the clouds clear and the rest of the business world starts to grow. In the NY Daily News article, “Small business start-ups that blossum amid the recession,” by Phyliss Furman gives a good look at businesses that blossom during this recession.

It took being laid off twice in six months for Judy Goss to decide to launch her own business.

Despite the risks, Goss chose to start a business development firm in February after she got consecutive dismissals, first from publishing giant Meredith and then from a small PR firm.

“The universe was telling me something,” said Goss, 40, who lives in Merrick, L.I., with her husband, whose clothing store is struggling. “If I wasn’t secure with a big company or a small company, who was I secure with?”
After the second layoff, Goss, a former model who’d booked celebrities for photo shoots at Meredith’s More magazine, reached out to entertainment and media contacts she’d made through the years and pitched her ideas. That led to her first client, thecutekid.com, a child modeling Web site, which needed help on several projects, including a reality TV show.

Her career moves are what many people who’ve been shown the door think about: Is it better to look for a new job when few companies are hiring, or is now the right time to be your own boss?

Making the best decision will depend largely on your finances, risk tolerance, the type of business you want to launch and your drive.

“If you have always had a burning desire to do this, now may be the right time,” said Martin Lehman, a counselor at SCORE New York, a free entrepreneurial counseling service. “But it is never easy to start a business, and the economy has made it more difficult.”

Entrepreneurs will need a business plan and strong knowledge of their field, said Lehman, who once owned a chain of women’s clothing stores. To get a loan, you’ll need strong credit, collateral and money of your own invested in the business, he added.

Financing remains tight, but the U.S. Small Business Administration has waived some loan fees temporarily, and raised loan guarantees up to 90%.

Also working to broaden lending to businesses with less than 100 employees, the city’s NYC Capital Access Loan Program guarantees up to 40% of eligible loans up to $250,000.

Having a cash cushion is critical, said certified financial planner Scott Brewster of Park Slope, Brooklyn, because cash flow can be so unpredictable.

“You might need two years of living expenses, not to mention business capital,” Brewster said. “Some businesses, like restaurants, have a highly volatile revenue stream.”

Antonio Da Silveira, 39, of East Harlem, had a lot working in his favor after getting laid off last October by Cornelia Day Resort in midtown, where he was a manager.

He had years of experience, savings and strong credit. When a friend with a hair salon in Tuckahoe, Westchester, offered low-rent space above his shop, Da Silveira decided to open his own spa.

He plans to invest $20,000 to renovate and buy equipment. He’s developing a business plan and wants to borrow $100,000 in SBA loans and ex-clients.

“It was always my dream to start my own business,” Da Silveira said. “It’s not the best time, but this is a good opportunity.”

Stop dreaming, use that brain and make a plan to have your own business, then do it. The resources exist for those that desire to figure it out, so go and figure it out. I know you can do it.

The secret is in the starting, now it’s your time - start.

MikeToots_building businesses since I was a kid.

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