A number of economic changes are magnifying the role of small business and creating the impetus for entrepreneurship.
In the past, many people perceived small business owners as shopkeepers – the mom ‘n pop shops. Today, with a status boost, they’re entrepreneurs, and perceived to be on the leading edge.
But is now the right time to step up to the plate and take a swing at starting a small business? In the audio book, “Sound Advice on Small Business,” author Jim Schell points to a number of economic changes creating momentum for entrepreneurs.
Continued downsizing in the Fortune 500 sector is one change, as corporate CEOs strive to keep earnings up to stock market expectations. “The corporate rat race has become more stressful to its inhabitants, and more tenuous,” says Schell. “Today’s Enrons and Worldcoms haven’t done the image of the big guys any good, either.”
Job creation is another economic change. “Corporate and government downsizing, combined with an influx of trained and motivated entrepreneurs is resulting in the vast majority of today’s new jobs being created by the small business sector,” says Schell.
He also points to changes in technology. “Today’s technology is allowing little companies to do big things. Small businesses are now able to compete in industries that were once only open to the big guys.”
With these and other economic changes sweeping the country, Schell believes now is the right time to become an entrepreneur. “My advice: Go to where the action is – make a beeline for small business.”