by Maria Hanson, for LiveCareer
According to a recent survey, 25 percent of recently laid off workers who have not yet found jobs are considering starting their own business.
Laurie Ludes, a laid-off graphic artist, found herself in this situation. In 2002, when Ludes got let go from the position she had held for 15 years, she started her own graphic arts company rather than look for work for another employer. That segued into an extremely successful maternity and newborn photography business, LaurieL Photography.
Even under the dark clouds of the recession, entrepreneurship is booming. In fact, small businesses now account for 99.9 percent of the 27.2 million businesses in the U.S.
Read on for interesting, inspirational facts and personal stories about starting a business. And find out your own entrepreneurial potential with a free entrepreneur test.
You can be a successful entrepreneur at any age. Some 10 million adults in the U.S. are trying to start a business at any given time, according to the Ewing Marion Kauffman Foundation. More people over 65 are starting businesses every year. And 70 percent of teens want to start a business.
Danielle Herb, 15, was just 13 when she founded Drop Your Reins, a program helping children with ADD/ADHD and autism through interaction with horses. The business has succeeded in helping many children, and Herb plans to continue to pursue her entrepreneurial dream.
Independence is key. Half of all entrepreneurs started their own business in order to have more autonomy, according to a large survey. Most small-business owners say they would not give up the independence that comes with running their own business, even if they could make more money being someone else's employee.
Small businesses thrive. About 77 percent of new businesses are still around three years after starting. And 40 percent of new businesses survive six years or longer.
Teamwork triumphs. Entrepreneurs often work in teams, not alone. Half of all new non-home-based ventures are started with others. Ken McCord partnered with two others to start an N-Hance Revolutionary Wood Renewal franchise. "Each party brings talent, creativity, decision making skills, passions, and personality," he says.
Home is base. More than half of small businesses are home-based, according to the U.S. Small Business Administration. The variety of home-based businesses is endless, including website developing, jewelry making, solar energy consulting, property managing, and providing daycare.
You don't need much money. If you think you need a big wad of cash (or credit) to start your own business, think again. It's possible to succeed in business with relatively little initial capital. In fact, CEOs at 43 percent of Inc. 500 companies said they began with less than $10,000.
Teenager Mike Kittredge made his first candle (mom's Christmas present) with an empty quart milk carton and crayons. A friend bought it first so Mike bought more wax and made two more candles. Mom got one. He kept going. By 1982, he'd reached $1 million in annual sales. In 1998 Yankee Candle was sold for more than $500 million.
Take a free start-a-business test to find out if you have what it takes to start your own successful business.
According to a recent survey, 25 percent of recently laid off workers who have not yet found jobs are considering starting their own business.
Laurie Ludes, a laid-off graphic artist, found herself in this situation. In 2002, when Ludes got let go from the position she had held for 15 years, she started her own graphic arts company rather than look for work for another employer. That segued into an extremely successful maternity and newborn photography business, LaurieL Photography.
Even under the dark clouds of the recession, entrepreneurship is booming. In fact, small businesses now account for 99.9 percent of the 27.2 million businesses in the U.S.
Read on for interesting, inspirational facts and personal stories about starting a business. And find out your own entrepreneurial potential with a free entrepreneur test.
You can be a successful entrepreneur at any age. Some 10 million adults in the U.S. are trying to start a business at any given time, according to the Ewing Marion Kauffman Foundation. More people over 65 are starting businesses every year. And 70 percent of teens want to start a business.
Danielle Herb, 15, was just 13 when she founded Drop Your Reins, a program helping children with ADD/ADHD and autism through interaction with horses. The business has succeeded in helping many children, and Herb plans to continue to pursue her entrepreneurial dream.
Independence is key. Half of all entrepreneurs started their own business in order to have more autonomy, according to a large survey. Most small-business owners say they would not give up the independence that comes with running their own business, even if they could make more money being someone else's employee.
Small businesses thrive. About 77 percent of new businesses are still around three years after starting. And 40 percent of new businesses survive six years or longer.
Teamwork triumphs. Entrepreneurs often work in teams, not alone. Half of all new non-home-based ventures are started with others. Ken McCord partnered with two others to start an N-Hance Revolutionary Wood Renewal franchise. "Each party brings talent, creativity, decision making skills, passions, and personality," he says.
Home is base. More than half of small businesses are home-based, according to the U.S. Small Business Administration. The variety of home-based businesses is endless, including website developing, jewelry making, solar energy consulting, property managing, and providing daycare.
You don't need much money. If you think you need a big wad of cash (or credit) to start your own business, think again. It's possible to succeed in business with relatively little initial capital. In fact, CEOs at 43 percent of Inc. 500 companies said they began with less than $10,000.
Teenager Mike Kittredge made his first candle (mom's Christmas present) with an empty quart milk carton and crayons. A friend bought it first so Mike bought more wax and made two more candles. Mom got one. He kept going. By 1982, he'd reached $1 million in annual sales. In 1998 Yankee Candle was sold for more than $500 million.
Take a free start-a-business test to find out if you have what it takes to start your own successful business.
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