3 Reasons (Backed By Data) That 2018 Is A Great Year To Start A Startup In The Midwest
Monday, March 19, 2018
You likely already have plans for what you’ll be doing in 2018.
Maybe you’ve already bought tickets for an epic trip or committed yourself to getting fit this year. Sounds like fun!
But maybe 2018 is also the year that you should start the small business you’ve always been dreaming of.
Whether you know exactly what kind of business you want to open, or if you just long to be your own boss someday, you should know that 2018 is a particularly good year for starting a business.
Why is that? There are a lot of economic reasons that starting a business in 2018 will give you a higher chance of success – especially if you’re opening a business in the Midwest.
1. The Economy is Improving
Remember in 2009 when the economy tanked and no one was buying anything?
It’s taken a long time for our economy to recover from that slide, but it’s finally starting to grow again — and at a quick pace.
During the third quarter of 2017, the economy actually grew at a 3.3% annualized growth rate. The quarter before that, the economy grew at a 3% annualized growth rate. That was the first time since 2014 that the economy sustained a 3% annualized rate for six months in a row.
That means that the economy isn’t just improving. In addition, that growth is becoming more consistent and predictable – which is exactly what you want to hear if you’re about to invest your savings (not to mention your blood, sweat, and tears) into launching a start-up.