In a lot of ways, starting a business is like having a baby—there’s never a perfect time to do it. But there are times that are better than others.

Believe it or not, a recession like the one we’re in right now might very well be one of those times. Of course, the decision to pursue your entrepreneurial dreams is highly situational, but the economic fundamentals of a recession make for a strong case to get going:

Interest rates are low.

The labor market is ripe with talent. 

And innovators have the chance to unseat struggling multinational corps.

All that said...there are enormous risks, too. During recessions, venture capitalists hold their checkbooks tight, and the chance of your business failing in the first year balloon beyond the typical 20% likelihood of going belly up in good economic times.

There are plenty of variables here. So how do you know if a recession is the right time to start a company? You ask the expert: David Cancel, entrepreneur, investor, and serial founder. He’s started and sold four companies over the last two decades, and now he is the CEO of marketing and sales platform Drift.

Today on Business Casual, David explains the pros and cons of starting a business in each stage of the economic cycle—we’re covering everything from hiring and fundraising to creating products for the next generation’s needs.

Listen now.