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Struggling Economies a Boon for Entrepreneurs

by Ryan Halvorson on Jul 07, 2009

Making News

Enormous discussion has revolved around the many financial pitfalls that loom during a struggling economy. However, there is hope for motivated self-starters interested in starting a business. According to Josephine Nicholas, chief operating officer of Published Daily, a “tech company whose aim is to help professionals generate more referral business,” entrepreneurs are suited to thrive during a recession. Nicholas lists five top reasons entrepreneurs will succeed:

1. Freedom. The unemployed are free to chase their dreams. They are not held back by job constraints and may now re-evaluate their skills and priorities.

2. Good Company. Such companies as Hyatt, FedEx, Microsoft and CNN were developed during difficult economic times.

3. Trust. Several surveys have determined that large corporations create unease among consumers. Smaller entities that offer personalized attention and contribute to the public good foster customer trust and boost business.

4. Originality. As consumers reassess their needs, entrepreneurs must shift focus and find innovative ways to appeal to those needs. Creative entrepreneurs who meet new demands have a greater chance of success.

5. Local Growth. Businesses and entrepreneurs that help boost local economies are looked at as “heroes.” They create jobs and inspire confidence in the community.

Do you have the entrepreneurial spirit? For more information on start-ups and successful entrepreneurialism, check out the following resources available at the IDEA Store at

  • Just Jump! The No-Fear Business Start-Up Guide, by Marjorie Geiser, RD

  • Going for Greatness! Business Solutions for Entrepreneurs, by Todd Durkin, MA

  • IDEA’s Fitness Business Forum Set

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About the Author

Ryan Halvorson

Ryan Halvorson IDEA Author/Presenter

Ryan Halvorson is an award-winning writer and editor.