Back to the Garage
Wired magazine recently included an essay suggesting that now is the time to innovate. Bootstrapping is a part of e-ship: lean production was developed in lean times. Many large firms such as Apple and Microsoft were started in hard times.
Siebel systems was started in a downturn. Tom Siebel is fired up to do another start-up…because the timing is right: (1) rents are cheap; (2) good people are available; and (3) other potential entrepreneurial competitors are dispirited.
See more in “Back to the Garage:”
http://www.wired.com/culture/culturereviews/magazine/16-12/st_essay
ProfessorGary on Innovation and Marketing 
Absolutely. Not only is this the perfect time for to start a biz, but it’s also the time when businesses reinvent themselves. Economic distress gives rise to entrepreneurship because business are in need of creative solutions at a low-cost.