The week I quit my job to start my own business, the market crashed. The Dow Jones was down by 700+ points. I was in panic mode, thinking that there would be no opportunities for the self-employed. Turns out, I was wrong.
Ally Lapore, founder of OurMilkMoney.com — a directory of self-employed parents — mentions in her blog about the recession that “smaller businesses, for the first time in decades, have a fighting chance. And in case you haven’t noticed, small business is exploding. They have something big businesses don’t have: a personal touch.” Cheezhead.com summarizes a study done by ADP:
“According to ADP, over 200,000 small business jobs have been created in the last six months. The study reflects a continuation of this growth by showing that small businesses, defined as companies with less than 50 workers, added 28,000 new jobs during September.”
In his book Rich Dad Poor Dad, Robert Kiyosaki mentions that before the Industrial Revolution most people made a living by being entrepreneurs.
Are we seeing a return to the basics?
In the midst of this economic turmoil, it looks like there may be promising opportunities for small businesses. And as more people turn to starting their own businesses as corporations continue to sink, the number of small business owners will steadily increase, providing more support and growth for all the entrepreneurs involved.
Imagine you are a small business owner — wouldn’t you prefer to do business with someone like you rather than with a big corporation?
Entrepreneurship is not something new. Now, it is simply reviving itself, coming back into style.
So to those who are amidst starting your own businesses, just brainstorming a business plan, or looking to take something established to the next level — the stars seem to be aligned in your favor.
Let’s go forward with our plans and not freak out about the economy.