Advertisement
 
Friday, August 26, 2016
Amsterdam, NY ,

 

In this Wednesday, Oct. 17, 2012, photo, a sign advertising a sale is seen posted on a storefront in Philadelphia. A flurry of reports released Thursday, Nov. 1, 2012, showed that U.S. consumers are growing more confident and spending more, boosting a still-weak economy just five days before the presidential election. Consumer confidence surged in October to its highest level in nearly five years. Americans were encouraged by recent declines in the unemployment rate. And they responded by spending more on cars and trucks, at retail businesses and on goods produced at U.S. factories. (AP Photo/Matt Rourke)

Advertisement

Economy boosted entrepreneurship in 2011

Thursday, November 29, 2012 - Updated: 6:50 PM

NEW YORK (AP) — The slow improvement in the economy gave a huge boost to entrepreneurship in the U.S. last year, according to a study released Thursday.

More than 29 million people were starting or running new businesses in 2011, the study by Babson College in Wellesley, Mass., and Baruch College in New York shows. That was a 60 percent gain from 2010, when entrepreneurship was hurt by uncertainty about the economy.

The gain also matched the increase in entrepreneurship recorded in 2005, when the economy and small businesses were booming.

A pickup in entrepreneurship indicates that people were getting more confident about the economy and were therefore willing to take a chance on starting a business. However, it also reflects a still-weak job market: Many people chose to start companies because they couldn't find jobs or were tired of looking.

Still, researchers at the colleges say the report's findings are a positive sign for the economy. They found that nearly 40 percent of the entrepreneurs they counted expected to create more than five new jobs each in the next five years. Many economists have said the economy can't gain momentum unless small businesses pick up the pace of their hiring.

The economy has been showing signs of a slow but steady recovery, led by an improving housing market and greater consumer confidence. Next week will bring several new reports, including the government's look at the job market in November.

     

Comments made about this article - 0 Total

Comment on this article

Advertisement
Subscribe to The Recorder

 

The Recorder Sports Schedule

Most Popular

    Area high school sports calendar
    Wednesday, August 24, 2016

    Auto recycler faces code violation, seeks special use permit
    Friday, August 19, 2016

    Settling in at GASD: Ramos talks life, career, education philosophies
    Saturday, August 20, 2016

    Legislature may vote on solar agreement Tuesday
    Monday, August 22, 2016

    Summerfest to celebrate East End park, connect residents to resources
    Friday, August 19, 2016

    William Henry Parker
    Tuesday, August 23, 2016

    Job growth in county on the rise for 2016
    Saturday, August 20, 2016

    Choosing the right district attorney
    Saturday, August 20, 2016

    Richard A. Zientek
    Friday, August 19, 2016

    City granted BOA title, looks to renew revitalization efforts
    Tuesday, August 23, 2016

Advertisement

Copyright © McClary Media, Inc.

Privacy Policies: The Recorder

Contact Us

Twitter

Instagram

Facebook