Time to Startup!

The BizFilings blog covering business tips and trends.

A Stalled Economy Does Not Imply Stalled Entrepreneurship

Published on Dec 31, 2010


Read 'A Stalled Economy Does Not Imply Stalled Entrepreneurship' at 'Time to Start Up,' the small business blog by BizFilings.
As U.S. small businesses employ nearly 50 percent of the private workforce, many analysts are predicting that economic recovery will come primarily from this sector. However, unemployment remains leveled at a stubborn 9.8 percent, and many economists such as Federal Reserve Chairman Ben Bernanke have claimed it may take several years for unemployment to drop to pre-recession levels. As a result, many Americans who are fed up with being unemployed and unable to find a job are launching their own businesses to get back to work. And they do not have to do much research to find success stories of adverse entrepreneurial conditions. Howard Schultz of Starbucks, Mark Cuban of Broadcast.com and Steve Jobs of Apple and Pixar are just a few sources of inspiration. "With the majority of jobs created by small businesses (and all businesses start small), you may find that you and several colleagues can come together to create financial independence for yourselves - and jobs for others," writes Lea Strickland in The Street. "Even in tough economic times, new businesses and smart businesspeople can succeed, grow and thrive. It takes planning, realism and hard work." Forming a company is not a simple task, but given the right attitude and ample effort, adverse economic conditions can make for just the right entrepreneurial circumstances.