Why 2021 Could Be the Best Year For You to Start a Company

November 23, 2020 4 min read

Opinions expressed by Entrepreneur contributors are their own.

Now that 2020 has encouraged us to embrace the fact that so many things are out of our control, we’re able to see more clearly what has been working in the world, and what hasn’t. We also have more time to put our energy toward areas of our lives that are within our control.

I launched my company Ohwabisabi Media in the midst of the pandemic with one thing in mind — to amplify the voices, through media, of conscious leaders who ought to be heard during these unprecedented and challenging times. It is during times like this when a new wave is created — not only in how business is done, but also in leadership.

During the 1957 to 1958 recession, the first Hyatt hotel opened.

Microsoft was founded during the oil embargo recession of 1973 to 1975.

The Great Recession from 2007 to 2009 saw the creation of several startups like Uber as well as the popular vacation rental marketplace Airbnb.

If you’ve been wondering whether or not now is the best time to start a company, or if you’ve already started to dip your toes into entrepreneurship but are second-guessing your decision, here are 3 reasons why you should trust your instincts and go all in.

The consumption of online content is higher than ever, making it a great time to start a company

Consumers’ ever-increasing problems mean they’re seeking more solutions than ever. It’s now become easier and more accessible for everyday people to start businesses such as e-commerce, virtual assistant work, coaching, or becoming a freelance writer, designer or developer.

E-commerce has spiked by nearly 40% in the wake of Covid-19.

If you think about how your own consumption and purchasing behaviors have changed over the last few years, it’s easier to spot trends in where we are heading in the world of consumption and business.

If you think about what solutions you wish you had, that aren’t currently being met, chances are there are others looking for the same solutions.

More time spent being introspective has helped us home in on our unique gifts and strengths

As we began to spend more time in our homes, we had more time to do what we loved. For many of us, this meant cooking, writing, speaking, and creating in ways that are unique to our own genius.

We so often doubt ourselves and what we are good at — to the point where it stops us from taking the next step toward our highest desires. We believe that our gifts are not unique gifts. We believe our talents come easily to everyone, when in reality, you’re incredibly gifted.

While some people may be good at your talents or able to learn them quickly, they may not necessarily enjoy it. When you enjoy it, your passion and energy shines through your work. Work becomes effortless and enjoyable when you’re living in true alignment with your soul and heart’s desires.

A recession can expand the available workforce

The pandemic forced millions of people out of their jobs. If those people don’t decide to start their own companies, they’ll be looking to join those who do, putting their experience and expertise where it’s most valued.

Not only are we helping those in need of financial relief during challenging times, we are connecting those same people with missions and new business ideas that are truly life-changing.

If you’re hesitant about starting a business during this time, look for the reasons why it will work, instead of why it won’t — because what we focus on grows.

The world of online business is the new normal, and many successful leaders, businesses, and companies are creating during times of turmoil.