Unintentional Entrepreneurs Global Recession breeds new class of ‘Unintentional Entrepreneurs’




Char Reed is an Unintentional Entrepreneurs – pushed by financial need into starting a small business of drawing digital pet caricatures after her car sputtered out as she drove home from work.

Intentional or unintentional, she’s not alone. Entrepreneurship rates over the past 15 years peaked in 2009 and 2010 at 340 per 100,000 adults, according to the 2011 Kauffman Index of Entrepreneurial Activity, which tracks the country’s new businesses.



That rate declined in 2011 to 320 per 100,000 adults.

More people turned to self-employment during the recession, said Dane Stangler, director of entrepreneurship for the Ewing Marion Kauffman Foundation, which maintains the annual index.

“Mostly it is people who were laid off and in some cases people who were worried that they were going to be laid off,” said Fred Gebarowski, director of Wake Tech’s (N.C.) Small Business Center.

Like Reed, Aaron and Natalie Miller became entrepreneurs after unexpected circumstances compelled them to start their own businesses.

In August, Reed, 28, received an email from a Massachusetts man seeking to commission a portrait of his St. Bernard. He had discovered Reed’s 2-year-old graphic design and fantasy genre website, which included her pet caricatures. Reed’s car died a week later.

“With the car situation, that was the little push,” Reed said. She quit her part-time job at Michaels arts and crafts store – which required a 30-minute commute – moved in with her parents and focused on building a business around her illustrations.

Reed is now making the equivalent of her Michaels salary and has been swamped with the holiday rush. But she is already planning a Super Bowl promotion.

“I could draw your dog or your cat wearing a jersey or a hat, something like that,” Reed said.

The Millers started Solid Builders, a remodeling and construction business, after Aaron Miller, 39, was laid off in 2003.

In the beginning, the business didn’t bring in enough money to support the family, Natalie Miller said.

“We survived because of my job and my income,” said Natalie Miller, a former marketing and event planner. “We lived simple lives and spent our money wisely.”

She quit her job in 2007 to build the business and to spend more time with her kids. The Millers created a website and joined Internet directories.

Natalie Miller developed a project management process that involved tracking leads and making follow-up calls.

“We saw improvements within the first month, and a huge improvement over a year,” Natalie Miller said.





Fischer: No risk of recession
Ynetnews
Bank of Israel Governor Stanley Fischer told the Knesset Finance Committee that the Israeli economy is not in risk of a recession, clarifying that his decision to lower interest rates stemmed from a desire to foster demand in the market and influence ...
See all stories on this topic »
Boxing Day sales expected to draw millions of Britons despite recession
The Guardian
But with many households struggling to cope with everyday food and fuel bills, therecession has altered the pattern of Christmas shopping, with savvy consumers looking to spread the cost over several months and holding back for in-store and online...
See all stories on this topic »


The Gu


Investors fleeing the ghost of recession past
Minneapolis Star Tribune
That collapse was followed by record price swings in equities, a market breakdown that briefly erased $862 billion in share value amid the slowest recovery from a recessionsince World War II. Individuals are withdrawing money as political leaders ...
See all stories on this topic »

Minneapolis Star Tribune
Brothers' Tampa-based veterinary company in booms in recession
Northwest News and Tribune
Jennifer Burton calms a nervous dog named Oynx at BluePearl Veterinary Partners in Tampa. The chain focuses on providing specialty services such as cardiology, oncology, ophthalmology and exotic species, specialized diagnostic equipment and ...
See all stories on this topic »


ardian

Recession breeds new class of 'unintentional entrepreneurs'
Fort Wayne Journal Gazette
More people turned to self-employment during the recession, said Dane Stangler, director of entrepreneurship for the Ewing Marion Kauffman Foundation, which maintains the annual index. “Mostly it is people who were laid off and in some cases people who ...
See all stories on this topic »
Memphis nonprofit sector, still reeling from recession, finds new ways to ...
Memphis Commercial Appeal
Martha Lund (left) and Laura Walters pack several days worth of frozen meals into the trunk of their car before delivering them to seniors around Memphis as part of the Meals On Wheels program. Meals On Wheels volunteers deliver 1,800 meals on a ...
See all stories on this topic »
County not spared effects of recession
Douglas Daily Dispatch
The national recession began in December 2007 and ended in June 2009. Cochise County, although somewhat buffered by Fort Huachuca and associated high levels of federal spending, was impacted along with the rest of the state and nation. Although ...
See all stories on this topic »
Chances of a recession US rise as US budget talks stall
Live Trading News
A decision by House Republicans to cancel a vote on House Speaker John Boehner's budget proposal last Thursday increases the chances the US economy will go into arecession next year, said Mohamed El-Erian, CEO of PIMCO. The reluctance among...
See all stories on this topic »


Comments

Popular posts from this blog

Airplane Parts and Functions

Simran Kaur