This week’s East Bay Express newspaper, covering the eastern cities along San Francisco Bay, interviewed me for their feature, “The Recession-Era Entrepreneur.” The article, written by editor Kathleen Richards, explores the trend of Bay Area residents becoming entrepreneurs by necessity. According to Richards:
Due to the economy, slim job prospects, and skyrocketing education costs, more and more young people are finding their fairy-tale careers beyond reach, or simply not on the horizon. As a result, many are supplementing their incomes — or banking entirely on the do-it-yourself route — by starting their own businesses, many within niche or specialized fields.
It’s definitely a trend I’ve been seeing among my small business students. What do you think: are entrepreneurs by necessity more likely to fail because they have less passion and/or planning, or are they more likely to succeed because they have more at stake and therefore try harder?
Do you have your own business? If so, why did you decide to start it? Was it a lifelong dream, an economic necessity, or a combination of both?