Why now may be a the best time for a Startup

via the Economist's Free Exchange Blog: "[there's] evidence that 80% of the top-ten Fortune 500 companies were started during a recession."

But also a cautionary note:

While starting a new firm during a recession may be more attractive, succeeding at that venture could be more challenging. Also, in some ways, the nature of this recession could make starting a business harder. A major constraint to starting a new business is adequate capital. Most new firms get their initial capital from the founder's personal savings or angel investors (friends of family of the entrepreneur who provide their savings). Falling housing and share prices mean personal balance sheets have taken a big hit. This will probably mean less capital for new businesses.

It also suggests that fixing the financial sector will be vital for making the most of this downturn.

Update: From WSJ - just don't forget freedom has a price, and budget for it. That said, with the uncertainty and lack of loyalty many employers display, the idea of job security may be a false one.