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Recession Sparks Entrepreneur Boom

August 2, 2012 by  

Recession Sparks Entrepreneur Boom
PHOTOS.COM
The poor economy has led many people to get creative and make their own jobs.

President Barack Obama may have had the opportunity to point out a silver lining regarding the ongoing economic recession if it weren’t for his recent “you didn’t build that” remarks. High rates of unemployment resulting from the struggling economy have resulted in a surge in American entrepreneurship, according to one report.

Researchers at the University of Missouri’s Truman School of Public Affairs found that from 2007-2010, the amount of necessity entrepreneurship rose from 16 to 28 percent of total entrepreneurship in the Nation. Necessity entrepreneurship results directly from an individual’s need to create a new income stream because of job loss or pay cuts. Other entrepreneurs are known as opportunity entrepreneurs; they decide to start a business based on the perception of achievable success and often leave other successful careers to do so.

“We’ve seen similar trends occur in past economically slow periods that have led to economic booms,” researcher Maria Figueroa-Armijos said. “The doldrums in the 1980s led to increased entrepreneurship and the economic growth in the 1990s.”

The researchers note that the rising number of necessity entrepreneurs means the Federal government should do more to protect people running small businesses as they begin to make up an even larger portion of the Nation’s economy.

“Currently, there is much more economic support for opportunity entrepreneurs than for people starting their own businesses out of necessity,” Figueroa-Armijos said. “With the rise of necessity entrepreneurs during the recession there is obviously a need for more help from lenders and policy makers. These necessity entrepreneurs could create jobs and economic growth for long-term economic prosperity.”

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • Mike

    Yes. It is that simple. Get the Gov’t out of the way and people will create their way out of a recession.

  • sabulaman

    Imagine that concept. It did exist once upon a time.

  • eddie47d

    Self reliance and personal responsibility are important traits in America. It’s great that most are not taking the bad economy lying down but helping to build it back up with their own ingenuity. Can’t say that about corporate America who only seem intent on building their next boat dock for their newest yacht.Obama misspoke and should have been much clearer in what he meant. Yet the rest of his statement must be presented to get a fuller picture. He is correct in that the majority of business folks and entrepreneurs had help from someone else. Whether government grants,parents money,highways that were built so he can get his goods to market,suppliers of goods to feed his business and so forth. Bill Gates had a team of about 8 to get his business going. Zuckerberg took someone else idea and perfected it and even Thomas Edison took ideas from two other inventors and made the light bulb a reality. The first inventor of the light bulb was ignored and the second one ran out of money so there are many factors in achievements . Now the sweat,hard work and ingenuity should rightfully go to the owner who took the final steps to make his business a reality.

    • Brad

      Eddie did you watch Waynes video today??? Do you not understand it is small businesses that paid for this infrastructure? You are so eating up as a liberal with that BS you are a loss cause.

    • s c

      Comrade ‘e,’ do you have selective vision? It would seem to fit, as you also suffer from selective memory and you are in love with the idea of Uncle Scam and his selecetive enforcement of the statutes [Constitution, fed regs, state laws, etc.].
      You probably won’t live long enough to understand that your White House ‘God’ is IN BED WITH CORPORATIONS. In case you’re hard-pressed for a place to start, comrade, look at GE. Look at the Federal Reserve. Loser.

      • eddie47d

        More trash talk from SC. Another hypocrite speaks, “the Federal Reserves”, Obama didn’t invent the Federal Reserves . Anything else you want to blame him for? Think before engaging mouth you right wing troll.

      • Opal the Gem

        “More trash talk from SC. Another hypocrite speaks,”

        Once again eddie has no rebutal so he does what he accuses SC of namely trash talks.

      • eddie47d

        That is all SC does so that is what she gets Opal the Dopal . Feel better now?

  • GRusling

    Obama’s “You Didn’t Build That” is blatantly false, because “We The People” built all of it, including the government which makes it all possible. That is what the “American Way” is all about … a society working together to make individual achievement a reality, not an impossible dream such as we see in the so-called “Social Democracies” of Europe.

    “Government” itself builds nothing, since it has only the resources of “The People” to work with. Some individual takes the chance, from whatever cause and either succeeds or fails.

    Government in America is not a collective. It’s a Constitutional Republic, required to remain so by our constitution, itself. Those who can’t understand that (like our current President) need to get a clue and go back to school…

  • Pingback: Bad economy forces people to become entrepreneurs

  • Jon

    Strange. According to the infallible media and our esteemed president, the country’s only entrepreneur lives in the White House, Washington DC.

    • Mike in MI

      Jon – Entreprenuer…in the White House????
      Yah, I suppose so…..if you call a ghetto conman an entreprenuer

  • Rick

    Government created these entrepreneurs … by putting them out of work.

  • Pingback: The Positive Side of Recessions – Back to Basics | Channel Buzz Middle East

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