Are the laid-off workers becoming entrepreneurs? Are they going to be the new trend of starting their own businesses because they cannot see themselves finding employment in the near future? It is certainly interesting to find out what kind of businesses those with means will start? Are they going to be low-overhead businesses because finding a job which will match with their expertise and salary expectations might not be an easy option? Cutting cost is certainly a catchy phrase and being able to offer a cheaper alterative for potential clients is always worth trying. What will happen to all those writers, programmers, designers, project managers who have been made redundant? My guess is that they will stay in the business they know well but the difference is that they will sell their services as self-employed persons. A lot of fifty and sixty-year-old people will be working longer because of the increased life expectancy and rising cost of living forces them to consider a retirement as a choice they cannot afford at the moment. Let’s not forget the younger generation who are graduating from universities and are looking for their first permanent position in the labour market. What can they offer to companies when they do not have the expertise, knowledge and wisdom of age at their side? Being young and anxious to learn might not be enough.

Starting your own business is certainly an option while you are waiting that the job market will turn around and companies start hiring again and offering apprentice and trainee positions to the graduates. Those who have a longer career behind them can certainly find out the value of the years spent for working for a company and if their can sell their expertise and make a living.

All in all year 2010 will be a great year for everybody who is interested in starting a business because if you succeed in tough conditions the boom years which evidently will come are going to be a child’s play. During a recession customers are looking more than ever value and that means that copying competitors will not guarantee a business success. Being authentic will!

Kristina Julin-Stringer©2009