Do Bad Economies Trigger Surges of Successful Entrepreneurs?

Canadian software firm Wave Accounting has released its 2012 Small Business Report. The results of extensive research by Wave reveal that bad economies, such as the one much of the world is submerged in right now, offer at least silver lining: a significant boost in entrepreneurship and startups.

According to the report, 15% of small business owners launch their startup after finding themselves unemployed and unable to work. This number is lower in good economic times (9%) and higher in worse economic times (18%).

While the economy may influence entrepreneurship, the government doesn't seem to. Just 2% of small business owners cite government incentives as a major decision to launch their own company.

And even though flexibility and time for family is one of the biggest reasons entrepreneurs launch startups, it's actually that very same thing that most struggle with. 50% of small business owners started their company citing time flexibility as a main reason but 66% thereafter struggle with time management, work/life balance, or both.


Toronto, Ontario, Canada

Wave makes it easy to be your own boss. Just do what you're good at, and lean on Wave's smart online software for help with invoicing, accounting and payroll. Wave makes your money-related task easy with: • unlimited invoicing, absolutely free! • accept credit cards on your invoices with our "pay now" feature with a super-low, easy-to-understand flat fee • expense tracking with no more manual... more

blog comments powered by Disqus

Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

Who's Hiring

Recent Comments

Powered by Disqus