Guestblog - enjoy!
Bad times have a scientific value. These are occasions a good learner would not miss. – Ralph Waldo Emerson
For years, the Great Recession has affected a number of families in the United States.
The economic meltdown has forced private sectors to reduce their workforce. That, or employees have decided to find jobs elsewhere. The recession, though considered “a period of dark times”, is a wake-up call.
With the rising unemployment rate, what else is in store for you? How will you survive?
Recession and Weapons of Mass Destruction
Although the war with Iraq did not directly cause the recession, it had somehow magnified its degree.
According to the Center for Economic and Policy Research (CEPR), while the war did impose serious costs on the economy of the United States, it cannot be entirely blamed for the Great Recession.
The root cause is the collapse of the housing sector.
However, continually spending for ammunition and other military equipment had added to the economic meltdown. This drastic move has gradually drained resources, and has reduced the number of jobs available.
Now that America is slowly building itself from the recession, though the job market has not fully regained itself, the possibility of the employment rate dwindling may discourage you to look for jobs.
What do you now do in the midst of the crisis?
The answer cannot be more obvious: You go back to your roots, do what you love best, and earn from it. Simply put, be an entrepreneur.
Thrive in your Business, Survive the Great Recession
Despite the improvement in the economy, you cannot deny that the recession may still be pulling down the employment rate. You can save your money, cut back on resources, and then you can get by. But then, a more positive approach lies in learning from what happened.
It now becomes clear for families that unemployment lingers.
Don Peck, in his article “How a New Jobless Era will Transform America”, laments the fact that people might not yet feel a sense of normalcy even if the Great Recession seems to be taking a backseat.
However, he says that innovation can allow an economy to rise and create more jobs.
Tiffany Meyers of Entrepreneur shares the same sentiment. Instead of feeling low, change the way you think.
Use the aftermath of the recession as your springboard to create your startup business and make innovations.
As Emerson said, learn from the bad times. Julie Meyer, one of the most influential women in Europe, believes that entrepreneurs can lead a country out of recession.
She says that “there’s a new social contract emerging which is around the individual” and that “everybody is aware of the high unemployment in the group coming out of universities.”
Stephanie Johnson, 32 and a mother of three, was displaced from her job as a graphic artist for a local newspaper.
During the recession, her problem was how to feed her children. She did save what was left of her earnings, and she refrained from shopping online.
However, she figured she could not live that way forever, especially when her kids were growing up.
After the recession, Stephanie used a portion of her savings as capital and made organic bath products. It used to be a hobby for her, but the recession prompted her to become a fulltime entrepreneur.
Ultimately, the recession has taught her to use her capacity to fight against unemployment.
It is not a question of how the Great Recession will transform America, but of how you will transform your nation.
The decision to start your own business may seem intimidating at first, and you might even think of investing in IPO’s to create your brand and establish your credibility.
Do not be afraid. Remember that you are more powerful than the Great Recession and that through your efforts; you can emerge from the economic rubble.
You might even save America from another recession in the future.
About the Author
Bill Achola is a financial publisher who owns a fast-growing, dynamic and innovative investment blog that empowers investors to make the right decision. Check out his blog where he writes and talks about best investing strategies at https://traderushreview.us.com.