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Why now is the time to start an insurance agency

Recessions create unique opportunities for any business startup including lower costs, increased availability of talent and lower risk.

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While the current economic environment is creating many challenges, it is also rife with opportunities. (Photo: Shutterstock) While the current economic environment is creating many challenges, it is also rife with opportunities. (Photo: Shutterstock)

The instant recession created by COVID-19 is regularly compared to the Great Depression of the 1930s, at least in terms of economic contraction.  While there are many differences, one thing is always true in times of economic turmoil and destruction, and that is significant economic opportunity for those with the preparation, mindset, and courage to take advantage of it.  This recession is no different.

I’ve been asked frequently over the last three months whether this is a good time to start a business, specifically an independent insurance agency. My answer is, “It’s the best time in the history of the world to start an agency.” Why?

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