The growing trend in America is to create a business. Cottage industries are popping up everywhere. From franchise retailers to launching new businesses, Americans are centre stage. Startups include service businesses, IT services, Remote Computing, Home-based businesses, coaching and craft and tool manufacturing businesses. It is part of the American way but it is also a constant reminder that across the country this is the only way to maximize your potential.
The corporate marketplace has lost some of its luster, thanks to the global pandemic whose after effects are still felt with the looming recession on the head of the American economy. For many years it was considered an attribute to work for a conventional business. It was a way to learn a skill and perhaps find some sort of economic security. The evolution of big businesses has changed the idea of being a part of a company to one of just being an employee that is expendable.
Inflation with rising interest rates could put a damper on job availability. One of the things that it will impact is wages. With the reluctance of employers to foot the whole health care costs of their employees, job benefits are not that enticing. The payoff of owning your own business is that the entrepreneur takes the starring role. The limits in opportunity in the business world are due to many factors that the employees have no control over.
Many people are opting to work from home. Home-based businesses are on the rise. Small Mom and Pop businesses are expanding thanks to the World Wide Web, Facebook & Whatsapp Groups and Personal Website Marketplace. This current trend is good for everyone. Entrepreneurs contribute to the success of this country. Out of ambition or need, more than a million boomers every year are starting their own businesses. In the United States people, in their mid-40s are most likely to start here own businesses.
The Ewing Marion Kauffman Foundation in Kansas City, Missouri, a research and education centre for entrepreneurs found in a study that nearly 110,000 folks who are in the mid of their careers started a business. Older entrepreneurs have a huge advantage in wisdom and experience. The entrepreneur wants job freedom more than job security. They thrive on the adventure of relying on their ingenuity.
Another group of aspiring entrepreneurs are the millennial generation or the Generation Y. Many do it because they desire a better work-life balance. They are the leading edge of a trend toward entrepreneurship that is due in a large part to technology. The new view is work is a part of life but you do not live to work. When they start their own businesses they work long hours and harder than they planned. The operating forces for these entrepreneurs are purposeful work, flexible hours and a chance for financial freedom.
A Pew Research Center poll of 2,003 Americans ages 18 and over pointed to the fact they were more satisfied with their flexible hours, the proximity of work and home, job security, level of on-the-job stress and salary than other workers. Entrepreneurship is one of the most exciting ways to reach for the gold ring. This generation has seen the corporate culture of loyalty to their employees. They realize that the corporate world is not going to look out for them. The entrepreneurial spirit is alive and well in America and is expected to grow in the coming years.
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