Recession turns many laid off workers into entrepreneurs – Jun. 23, 2009
When job openings are few and far between, some are finding the best road to employment is starting their own business.
By Jessica Dickler, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) — Desperate for a job? How does CEO with a six-figure salary and flexible hours sound?
With fewer jobs available and more people feeling shut out of the labor market, many would-be 9-5ers chose to go out on their own.
Challenging economic times can encourage entrepreneurial capitalism, according to a recent study by the Ewing Marion Kauffman Foundation. More than half, or 51%, of the companies on the Fortune 500 list this year began during a recession or bear market or both, according to the study.
And while it may be difficult to get off the ground, some start-ups are flourishing in the current economic climate.
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