The document discusses several key considerations for determining whether now is the right time to start a business: 1) The current state of the economy and level of unemployment could impact consumer spending and confidence. 2) The product/industry sector should be in a growing market to take advantage of excitement rather than competing against established companies. 3) Research is needed on competition through sources like Company House to understand competitors' performance, new products, and customer feedback. 4) A SWOT (strengths, weaknesses, opportunities, threats) analysis should be conducted to evaluate the business proposition and plan for risks. Factors like available resources, expertise, technology, regulations and new competitive threats should be considered.