So I've got this idea for a new business. Well, not a new business exactly - more of a new line for the current business. I actually came up with it on the way back to London after Christmas, but as soon as I got back into the office I had to put it on the backburner because there was so much else going on. But I haven't forgotten it - and the more I think about it, the more I'm convinced it could work. What I can't decide is: is this the worst time ever to start a business, or is it the best?

I suppose to the average punter, starting a business now would sound like a stupid idea. The economy's in a mess, perfectly good small firms are going to the wall everywhere you look, and you've got more chance of finding Elvis than you have of getting a decent bank loan. There's also a good argument to say that now, more than ever, you need to be focusing on what you do best ('keep the main thing the main thing', as Mr Innocent says). Put it this way: I'm not sure many strategy consultants would tell me that now’s the time to be branching out and trying something new (not that they're generally big on risky ventures, even at the best of times).

And yet... I can't help thinking there's another way of looking at it. If firms are disappearing, and everyone's concentrated on holding onto what they've got, there has to be an opportunity there. Has to be. And if you’re in the fortunate position of having a decent pipeline of business, and a bit of cash in the bank, as we have, surely you should be one of the people trying to take advantage? People do have money to spend, if you get your offering right. And all things considered, I’d rather they gave it to me.

It’s never that easy getting advice about new business ideas – I’m always a bit wary about asking people’s opinion, in case they either don’t get it (and end up putting me off unnecessarily), or like it so much that they pinch it. And it’s particularly bad at the moment, because people are so obsessed with the credit crunch – all of the friends I’ve mentioned it to think it’s a stupid idea (particularly since it’s more of a product than a service, so a bit out of my comfort zone).

Besides, ultimately it boils down to whether you think it’s a risk worth taking. And by definition, entrepreneurs’ attitude to risk isn’t the same as your average punter, so there’s not much point asking them. Personally, I like to roll the dice every now and again – or I wouldn't be doing this. And just because the stakes are higher at the moment, that’s no reason to stay out of the game, right?