Recession has its downsides but the worst element of a recession is unemployment. The sluggish economy forces companies to cut back on their biggest costs: PEOPLE a.k.a Human Resources. A steady source of income is vital for the survival of many households. Losing a job can really be devastating and even traumatic. There are very few who will have the help of their previous employers to assist them in finding a new job. Many will be on their own and very depressed. This will be high time for employment and recruitment agencies, but even they will have their limitations as jobs will be scare.
So in a situation like this, what should one do?
Well how about hiring yourself?
History has revealed that a significant number of people who are laid off turn to thinking about doing what they had always wanted to do .Now that they have the chance and some free time they will try to set up something of their own, which was not possible during a steady job. Another positive factor is that many of them succeed and in future become employers’ themselves…rather then employee.
An excerpt taken from this article says:
“If history is any guide, Carl Schramm, the head of the Kauffman Foundation, a non-profit organization that promotes entrepreneurial activity, points out that start-ups tend to flourish in the year that follows a sharp downturn. Rather than head back to another corporate bureaucracy, some of those made redundant will take a shot at being their own boss.”
If we want to learn anything from history, then we should learn that “when the going gets tough…The tough get going!!” So sit back and think about what you like to do best and turn it into a successful business. I did!