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Layoffs Increasingly Mean New Small Businesses

Written by James Conroy
Published: 5/28/2009

A growing number of those who have lost their jobs are becoming small business owners.

Every week it seems that the news reports show another round of layoffs for a major U.S. company, but the good news for entrepreneurs is many have turned these job losses into positives by opening their own small business.

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ABC News reports that a growing number of laid off workers are forgoing trying to look for new employment and instead striking out on their own and starting a small business. Darren Hardy, publisher and editorial director of Success magazine tells the network that this is the perfect economic climate for someone to do just that.

"Every once in a while the capital system reshuffles the deck. Those who had control of markets and the supply chain suddenly lose it," he told the news network. "Where it was once difficult for small businesses to punch into market, it is now quite easy. There has been a disruption of the status quo."

It is not an uncommon occurrence for the recently unemployed to become entrepreneurs.

In an article late last year for USA Today, Thomas Frey, a senior futurist at the DaVinci Institute, told the paper that an average of 7 percent of the recently laid off workforce attempts to start their own business.

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