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Go your own way; But watch out for the storm clouds (access required)

By Caitlin Coakley Jason Fararooei graduated from Queens University last year, Master’s degree in organizational and strategic communication in hand, ready to start his career. Then he took a look around at the job market, and changed his plans. “I saw the way the economy was and said, ‘I’m not going to sit around and wait for things to turn,’ so I decided to just go and do my own thing,” he said. That turned out to be Yellow Cape Communications, a startup video production company. New graduates, recently laid-off employees, stay-at-home parents hoping to make some extra money in this slow time — whatever their backgrounds, more people are taking the road of entrepreneurship as the economy slows. However, experts caution that entrepreneur hopefuls need patience, flexibility and frugality to succeed in this economy.

One comment

  1. According to the Kaufmann Foundation, an organization that studies entrepreneurship, while the rate of entrepreneurship is definitely up during the recession, it is not up by a very significant amount. The conclusion is that people start businesses at a pretty consistent rate in good times or bad times.

    One key warning to the chronically unemployed: the inability to find a job should NOT be your primary reason to start a business. You need to have a fire inside that drives you long after the job market has recovered and employment opportunities present themselves.

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