There is no better time to consider entrepreneurship and the reasons are many! Here are FOUR TRENDS that make it a good time to follow your dreams of owning your small business. Entrepreneurship is alive and well in America today:
The Great Recession and it's predecessor influence indivduals wanting to take back control of their lives, their income and their paths in life on the planet.
They say that history repeats itself and one can take a lesson from The Great Depression of 1929. We know that these were tough times. There was very high unemployment, a lack of jobs and people were trying their best to put food on their tables.
During those trying times, when individuals sought work and were unable to find any suitable employment, they began in many cases to start their own businesses. It was a matter of survival and a matter of feeding their families. They drew upon what skills they had and formed local businesses as the butcher, the baker and the candlestick maker.
These entrepreneurs not only created their own jobs, but created additional job roles when they had to hire staff to work for them. It was a time where, if you could capitalize on some skill or talent that you already possessed, you could make money at it and stave off starvation.
This depression lasted until 1941 when Pearl Harbor was attacked. The war created new jobs and the economy moved ahead. It was also a time when women were called into the workforce in larger numbers than in past history, to help with the manufacturing efforts to keep the supplies for war at the right levels.
If we fast forward to the most recent The Great Recession…as no one wanted to call it a depression. It began somewhere around December of 2007 when there was a sharp decline in the economy and then took a more significant dip in September of 2008. There are several indicators of a recession, but for these purposes here, we will work with the decline of jobs. This was the most significant reduction in jobs since the Great Depression. Technically the recession ended in 2009, but today in 2013, we still see high unemployment and limited prospects into 2014 for global growth which continues to be a block to an economy exhibiting full recovery.
So, we can see here that history has repeated itself as people cannot find jobs, even in 2013. So what has been happening since the Great Recession as in the past Great Depression? Many folks are opting to take back control of their lives, their income and their path in the world. We see a resurgence of people going into business, in order to put food on the table and to regain control of their lives.
This taking back of control of income, security, and stability in the lives of many is feeding the ranks of entrepreneurship. It is not surprising considering the upheaval, struggle and uncertainties coming out of the clutches of an economy that crashed a few years ago.
So as the economy starts cooperating with the new business ventures, the new entrepreneur of today and going forward who benefits from new technology, the internet, social media advancements and other fast evolving business tools, puts a new spin on the butcher, the baker, and the candlestick maker of 2013 and beyond.
What does it take to be a small entrepreneur and be successful in this post Great Recession area and ahead?? How can the small entrepreneur compete with the large conglomerates and giants that are well established on the planet?
That is the discussion for next time...Stay tuned.