Will the proliferation of entrepreneurism and small businesses
lead the U.S. out of recession as the New Economy?
What if we haven’t bottom out yet?
What if we rethink our current approach?
What if I started a new business?
Historically, economic downturns are lead to recovery by small business.
Data and public sentiment show this may hold true for the present economic
turn around to begin.
Today’s jobs and tomorrow’s sources of gainful employment are projected to come from the burgeoning entrepreneurial class and new businesses starting up across the country.
Consumer Confidence = Two thumbs up!
When asked this Spring, “Who will lead us to a better future?” Americans put Entrepreneurs and Small Businesses first with 63% followed by Science and tech leaders (52%). (Source: WeMedia, 2009)
In 2008, 3.2 out of 1000 adults created a new business each month. That’s approximately 530,000 new businesses per month (source: The Kauffman Index of Entrepreneurial Activity, 2009).
The states with the highest entrepreneurial activity rates were Georgia (590 per 100,000 adults), New Mexico (580), Montana (530), Arizona (490), Alaska (440), and California (440). (Kaufman)
Crazy to Start a Business Now?
Who would start a company when their economic future is unstable? Well try reading Startups in a Downturn. Lessons learned: everything is cheaper, there is less competition in the marketplace and in fundraising, there is more time to work on business plans. Read more here.
Still not convinced? Looking for more support? For more mental fodder
see Inc.com‘s “6 Questions to Ask Before Starting a Business.”
For the full study on Entrepreneurism, download the Kaufman Index here.
Amos White is an Internet Marketing Evangelist and public speaker.
Follow Amos on Twitter @Mos42 and on his blog https://amoswhite3.wordpress.com.