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The Recession: Why It’s Good for Entrepreneurs

With the highest unemployment rate since the Great Depression, 2009 was, without a doubt, one of the worst years for the economy. Is it a pure coincidence that this year also represented the highest year on record for entrepreneurial growth? No.

According to the Merriam-Webster Dictionary, the definition of entrepreneur is “one who organizes, manages, and assumes the risks of a business or enterprise.” They are in fact undertaking a risk when they open a business and what better time to take a risk then when you have the freedom to do so- when you’re laid off? The last thing many people want to do when they get laid off is to go through the long, difficult and often frustrating task of searching through hundreds of job search websites, sending out cover letters and resumes only to receive that e-mail saying “Thank you for your interest but we have found another candidate…”

So why not do something you’ve always loved? Sure you may not make money right away, but committing yourself to doing something sure beats sitting around feeling sorry for yourself and your wallet. Not sure where to start? Check out Entrepreneur.com’s 55 Home-Based Startup Business Ideas

Remember the famous saying “Do what you love and the money will follow?” It’s true. Put your mind to it and success and money will come. And if it doesn’t, it’s never a mistake if you learned something from it.