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Even though the number of business start-ups sees a significant reduction during economic downturns, those that remain generally stay strong and healthy.
CHRISTINA SHEPHERD
Have the mighty really fallen? The land that birthed modern business has never been under such threatening reformation, with an impending economic crisis so severe it could put even Iceland to shame.
However, amidst the doomy, gloomy, wallet-tightening financial madness, there is one corporate demographic still valiantly persevering. A new study released this week by the Ewing Marion Kauffman Foundation found that even though the number of business start-ups sees a significant reduction during economic downturns, those that remain generally stay strong and healthy.
The study, which is entitled Jobs Created from Business Start-ups in the United States, also highlighted the contribution business start-ups make to employment, praising their importance as invaluable sources of job creation. Financially backed by the U.S. Census Bureau's Centre for Economic Studies, the study suggests that, just as job growth is essential for an economic revival, start-ups are essential to job growth.
The fundamental implications of the investigation are positive: solve the United States economic crisis through good, old-fashioned entrepreneurship. The findings should give a new lease of hope and inspiration to policy-makers and aspiring entrepreneurs alike.
This is the first of several studies that will extrapolate data from the Business Dynamics Statistics reports (itself based on the Quarterly Census of Employment and Wages), and if they remain this optimistic, start-ups may begin to consider what all the fuss was about.