High Unemployment Actually Encourages Entrepreneurship

Have you ever heard it said, if it doesn't kill you, it will make you stronger? While it's not always the most wonderful thing to hear, history seems to have proven that it is true. People facing challenging times not only learn from their mistakes, but they're forced to get creative and come up with new ideas and solutions. Oftentimes, a new and greater success rises from the dust.

During times of heavy unemployment and economic challenge, this type of idea gets tested time and again. We've all heard the stories. John Doe heads into work one day, thinking it's just another day at the office. Only this isn't like any other day he's experienced before, in fact this is his last day on the job.

Unexpected layoffs are announced regularly, sometimes with no warning at all, and thousands of people find themselves without work. No work means no income. People in situations like this face many emotions of fear, uncertainty, shock, and surprise. The road ahead often looks rough and a bit gloomy.

But does it have to? Is there a way to make something good happen out of a bad situation? Another saying comes to mind, and that is, when life gives you lemons, make lemonade. In fact many individuals have found that the sudden realization of being without work was just the impetus they needed to move forward in a new and better direction.

New businesses are started every day by men and women who have found themselves in a do-or-die situation. The internet is full of examples of situations just like this. The rise of new opportunities in online business open the door for people to work from home, with little or no start-up expenses. The blogger at ChristianPF(dot)com tells a story of just this type of situation.

Laid off from a five year position at a brokerage firm in 2008, he had to decide between looking for more work in a challenging job market or pursue a real income from his blog. The blog was just showing some signs of profit-making potential. He chose the blog and within a year had replaced his full-time income. The business has grown from there.

HartfordBusiness(dot)com tells the story of Barbara Rodriguez who was laid off from a hospital job almost a decade ago. She was shocked, but the article quotes Rodriguez as saying "When one door closes, another opens." She was referring to the business she started which offers translating services. Her company did over seven hundred thousand dollars in business in 2008.

Online marketplaces offer many creative entrepreneurs a way to make money quickly without much effort in start-up expenses. Etsy(dot)com is an online venue for individuals to sell handmade items such as art, pottery, paintings, and even downloadable greeting cards. A story on the company blog tells about an artist, Laura of slippedstitchstudios, who was laid-off eight weeks into maternity leave. She dedicated her time to her online store and now earns a full-time income at that pursuit.