Saturday, March 14, 2009

Job Losses Spawn a Wave of Business Creations

For thousands of us around the country, the current recession has created a major rethinking in how we sustain ourselves economically. No longer able to count of institutional stability or life-long jobs, many of us are looking at a variety of methods for improving our lot in life in this new world order. Many have gone back to school to upgrade skills or retrain for other job sectors. Others, such as those referenced in this article, have tapped into their entrepreneurial ingenuity to become their own bosses.

As we move forward as a world (we have to look beyond traditional borders and job sectors) entrepreneurs will be more vital than ever for reshaping the global economic community; particularly in the science, technology and environmental sectors. Hoever, for many, it simply boils down to taking control of their own financial destiny.


Weary of Looking for Work, Some Create Their Own
By Matt Richtel and Jenna Wortham of the New York Times (3/14/09)
http://www.nytimes.com/2009/03/14/technology/start-ups/14startup.html?_r=1&ref=business

Alex Andon, 24, a graduate of Duke University in biology, was laid off from a biotech company last May. For months he sought new work. Then, frustrated with the hunt, he turned to jellyfish.

In an apartment he shares here with six roommates, Mr. Andon started a business in September building jellyfish aquariums, capitalizing on new technology that helps the fragile creatures survive in captivity. He has sold three tanks, one for $25,000 to a restaurant, and is starting a Web site to sell desktop versions for $350.

“I keep getting stung,” he said. And his crowded home office is filled with beakers and test tubes of jellyfish food. “But it beats looking for work. I hate looking for work.”

Plenty of other laid-off workers across the country, burned out by a merciless job market, are building business plans instead of sending out résumés. For these people, recession has become the mother of invention.



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