A Golden Age for Start-up Businesses

CEBU, Philippines – For someone just starting out in business, the Internet means there are more opportunities than ever before and almost all of the traditional barriers for entry for new businesses are disappearing or have already disappeared.

For example, 20 years ago if you were going to launch a magazine, it would have required a fortune - to the tune of millions - to get the magazine to the stands. And then some more millions to break even. That is a huge barrier to entry, in terms of access to capital.

Today you can launch an online competitor to the established publications for probably less than a hundred thousand. I'm not arguing you'd be successful, but the capital barriers to entry that have kept really smart people out of industries have just about disappeared, thanks to the Internet.

The capital required is increasingly being driven down to almost zero, and people starting businesses today have an incredible advantage that the rest of us don't have, which is - they have no assets to protect. They're starting with a clean slate. - from Fast Forward By Alfred C. Sikes with Ellen Pearlman (Morrow)