Although the United States is no longer considered to be in a recession, the country is currently experiencing one of the weakest recoveries in recent memory. The unemployment rate remains stubbornly high; indeed, the job market has become so difficult that many people have simply become too discouraged to look for a job.

Even for those lucky enough to have a job, the economic picture is far from rosy. Many people are drastically underemployed, performing jobs far below their skill level simply to get a paycheck. As such, real wages have stagnated for years as people have become desperate for any paid work. Many workers are forced to take part-time jobs at minimum wage, often without health insurance or any other benefits.

In short, the job market is in disarray. Furthermore, it is not likely to improve as long as the financial system continues the painful process of deleveraging in the aftermath of the credit crisis. We have reached a new social norm where jobs no longer provide the same safety and security they once did. Long gone are the days where a worker could spend 40 years climbing up the corporate ladder within a single organization; such loyalty died years ago.

However, difficult times are often the precursor of great opportunity. Following the old Wall Street adage of “getting greedy when others are fearful” the time is ripe to take advantage of the bad economy to control your own future and start up your own business. Although you might think starting a new business, a risky proposition in even prosperous times, is dangerous in a recession, there are many advantages to operating in weak economic environments. In addition, the opportunity cost of starting a business is far lower in a time when unemployment is high and wages are low.

For one thing, the cost of doing business is far lower during periods of low economic growth. Real estate prices, which were proximate cause of this most recent economic crisis, have fallen nearly 30 percent nationwide since the bubble burst in 2007. In many markets, such as Las Vegas, prices have fallen even more. As such, it is a lot cheaper to buy or rent property for a new storefront or an office.

Labor costs are also much lower today than they have been in the past. As we have mentioned previously, people are desperate to find any job in order to pay their bills and feed their families. Instead of adding to the already depressed labor supply, you can take advantage of the situation by becoming the employer yourself. With low labor costs, it is much likelier that your business will become a success.

Of course, costs are only one half of the consideration of any business. Any successful business must find a way to obtain sufficient revenues in order to become profitable. This may seem like an insurmountable task in the present economy, but the surprising fact is that businesses, taken as a whole, are actually doing quite well. Indeed, the companies that comprise the S&P 500 index saw earnings rise by more than 15 percent in the third quarter. For those workers who have been able to keep their jobs, demand has been surprisingly strong in recent quarters.

Starting a new business is an exciting adventure, but it is one fraught with peril. As such, it is important to learn as much as you can about the details of becoming an entrepreneur. A great source of such information is LLC.NET, a leading website for both new and existing business owners.

This article is provided courtesy of LLC.NET the Limited Liability Company Specialist.