The housing market is down. Way, way down. Jobless claims are up. Jobless claims are nearing 8% here in California. So what is a young person to do? Why start their own businesses of course.
Boomers are being downsized and exiled from the corporate world. Their salaries are too high, the cost of their health insurance is near-prohbititve. So what are Boomers to do? Why start their own businesses, of course.
Entrepreneurs are either older or younger. According to a recent article in Inc.com entrepreneurs are getting younger every day. Except for the ones, according to other articles and reports, who are older and opening their own shops. Funny how that works, the young and the old appear better geared to take risks. They are more innovative, either from experience and acquired savvy, or, for the younger ones, from sheer courage and awareness of the modern marketplace and the incumbent technologies. I should also mention that either group doesn’t appear all that comfortable working in the corporate environment.
This is a sign that even in a down economy America is healthy and that its people still retain the adventurous spirit. Being old enough to remember, just barely, when people used a slide rule to crunch numbers, I am also old enough to realize the down cycle will eventually level off and the upcycle will begin. Those with the moxy, love that old word, who have gone into business in these recessive times, will be the ones who prosper on the up cycle.
Congratulations to all the young people going into business for themselves. I am proud to say my own son is one of them.
