I have been writing about how so many of our students when after assessing the current economy decide that they want to go it on their own rather that search in vain for a traditional job.
Matt Nicholson passed along an article by Toddi Gutner in the Wall Street Journal that addresses this trend:
Matt Nicholson passed along an article by Toddi Gutner in the Wall Street Journal that addresses this trend:
Andrew Levine knew he wouldn't find a job in investment banking when he graduated with an M.B.A. from the University of Miami in 2008. Wall Street was in the midst of a financial collapse. So instead the 24-year-old focused his efforts on launching a start-up. "I figured that starting my own company was the best use of my time while I waited for the market to thaw," says Mr. Levine.
Young adults ages 20-24 are facing unemployment rates of 16%. No wonder those with initiative and motivation are bypassing the traditional job market and creating their own employment.
Interesting unemployment rates and certainly one valid reason for starting a business, but I wonder, how many of these people have what it takes to be an entrepreneur?
Two articles to consider:
http://www.business-sanity.com/resources/articles/starting-a-business
http://www.business-sanity.com/resources/articles/entrepreneurship
Starting your own company is a good idea in theory, but the time and effort investment must be enormous.