Expert: ‘Now’s the time’ to start a business

U SA Today’s Steve Strauss says that now is "a great time" to start a corporation, and he says entrepreneurs looking to take advantage of this prime moment should keep their business sense, use technology and the internet, and take advantage of the free resources.

Strauss says that entrepreneurs need to avoid getting so carried away in their enthusiasm that they ignore aspects of forming a company like the accounting and advertising. It’s critical to stay focused on necessary planning measures to ensure that a company is around long-term.

Mastering the use of online media and new technologies can help small businesses gain a competitive edge over their competition, according to Strauss. "Don’t just buy some program and learn the basics, but really figure out how it can be used to your advantage," he said.

Strauss also advises entrepreneurs to use free help that’s available to them. SCORE counselors can help new business owners discover areas where their business plan may be weak, and other resources like social networks, magazines and books can also be great sources of advice.

Many entrepreneurs have been encouraged to start companies in light of recent legislation. President Barack Obama has proposed a bill to help support small banks, while Federal Reserve Chairman Ben Bernanke has said investigators will be looking for banks who have unfairly limited their small business lending.