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Entrepreneurship During the Recession

March 22, 2010

Challenging economic times can serve as a catalyst for the entrepreneurial spirit and lead to the creation of much-needed new jobs: 69% more unemployed US workers started a business in 2009 than they did a year earlier, according to a report from TrendsSpotting.

Over one-half of the companies on the 2009 Fortune 500 list, and just under one-half of those on the 2008 Inc 500 list, were founded during a recession or bear market, TrendsSpotting points out.

Still, one-half (50%) of innovation-driven countries, including the US, registered declines in the numbers of new business startups in 2009, according to the report.

Below, other findings from TrendsSpotting's the New Entrepreneur 2010 & Beyond, compiled from various research sources for

The drive to open a new business comes from within: Nearly two-thirds (66%) of entrepreneurs say they were inspired to start a business by innate desire, not by education or training.

People most likely to be involved in entrepreneurial activities are adults age 55-64, while younger adults (age 20-24) are the least likely to be involved in such activities. Meanwhile, 39 is the average age of US-born technology entrepreneurs at the time they started their companies.

Home-based Businesses

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