A global survey from Regus has revealed that a quarter of entrepreneurs started their business after losing a job. And it's not just small businesses that start this way.
Three-term mayor of New York and tech-billionaire Michael Bloomberg (pictured) started his own company when he was fired after 15 years at Salomon Brothers. Spotting a gap in the market for up-to-the-minute business information, he set up Bloomberg LP.
Unemployment was also the catalyst for automotive mogul Soichiro Honda. Rejected by the Toyota Motor Corporation for an engineering job, he started making scooters at home. With encouragement from neighbours, he went on to turn his hobby into a business that became a billion-dollar enterprise.
More than half of survey respondents admitted that the current economic conditions could be a deterrent to starting up. Red tape, a lack of credit and poor government support were the biggest problems. But 85% said they would still start their business again today. Once an entrepreneur, always an entrepreneur…
(Photo credit Rubinstein on Flickr)