August 3, 2011 | By wonkum |
According to the U.S. Department of Labor, the unemployment rate continues to rise. With approximately 14.1 million eligible people out of work, entrepreneurs are needed to create jobs to boost the economy. As the number of recent graduates and the newly unemployed increases, the number of available jobs decreases. Yet, despite the economic decline, many are choosing to become employers rather than employees.
There are, of course, numerous challenges and risks involved with entrepreneurship. So far, through much planning and research, I have managed to avoid some of the pitfalls of being a business owner. For me, being my own boss allows me to create my own work environment, which is essential to my success. And, as I recently finished graduate school, the transition was a seamless one for me: I didn’t have to walk away from a big company, or worry about my children’s stability (I haven’t started a family yet) or suddenly lose benefits. These are serious things that most have to consider before taking the leap into self-employment.
Although the path to entrepreneurship may not be easy, the rewards of having a job in this trying economy are priceless. So what does it take to get started? Becoming your own boss does not have any age, race, or education requirements. It does, however, require passion, drive, and hard work.