Recession Could Produce Entrepreneurs

The recession could inspire more people into embarking on entrepreneurial pursuits such as starting their own businesses, one expert has said.
According to national enterprise network NFEA, despite the global economic downturn operating a business from home is still a legitimate pursuit and many people are seeing entrepreneurial opportunities.

The chief executive of the NFEA said that people should dismiss the myth that a home-operated business is not a proper firm.

He explained: "We want to put those enterprises on a respectable footing as it were, and just make the point that it is a legitimate and respectable way to operate business.”

"It does have its advantages, and there are lots of other people doing it as well. This is a time when many people are seeing that there are opportunities to start their own business."

The NFEA launched its Home Enterprise Week last year, since more than 60 per cent of small businesses are now started from home and over eight million people earn a living from their own premises, indicating a need to address this topic.

The event gives existing home businesses the profile and support they need, as well as introducing the home enterprise concept to current and future start up businesses.

Entrepreneurs looking to start or grow a business from home will be able to access information, seek inspiration and meet other home business owners from their local area.

Research from the Chartered Institute of Personnel and Development found that the jobs market may continue to shrink as the number of employers planning to make redundancies continues to exceed the number of employers planning to hire. Starting up a business can be a positive way around these negative statistics.

There is a more positive enterprise culture that we have these days, in which many more people are thinking not 'I'll go out and find myself a new job' if they've been made redundant, but 'here's an opportunity to start up a business', which perhaps they have always wanted to do.

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