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Promising Outlook for Entrepreneurs Despite the Economy

Featured Author:

Vera Babayeva

Vera Babayeva is the founder of Women Can Have It All, a place where entrepreneur moms and women connect. After working in corporate America for two years, she found passion in her role as a business owner. An entrepreneur for three years now, she organizes networking events and writes about entrepreneurship to encourage women to explore their creativity, ambition and fulfill their dream of business ownership.

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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.

Corporate blogger Mir Kamin recently talked about how her economic outlook is encouraging because, “freelancing is one of those industries that booms in times of financial instability.”

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.”

Laura Allen, founder of 15SecondPitch.com, says that September was the best month she had in a while. Apparently after the employees of Lehman Brothers walked out with their plastic bins, the volume of her phone calls and e-mails increased. She says, “now they are finally serious about starting their own business. Before they were only thinking about it.”

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, especially those in the service sector. Business people who are looking to generate revenue are leaning toward partnerships with smaller clients, avoiding risky corporations. 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 their 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.