3 Reasons Why Entrepreneurship Is The Best Choice in a Struggling Economy

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Today, more and more people are turning to entrepreneurship for successful career paths. And though the concept of entrepreneurship has been around for thousands of years, authoritative sources like Harvard Business School, Entrepreneur, and Forbes say that modern entrepreneurs have made the best possible career choice, especially in today’s struggling economy.

The U.S. Has A Competitive Edge

Researchers at Harvard Business School recently released a report that discussed the success of U.S. based firms and how competitive they were in global economy. And despite the report’s overall tone of political pessimism, it was made clear that entrepreneurship – along with communication infrastructure – continues to experience rapid growth despite a shaky economic forecast.

The report’s authors say that perhaps the leading reason for this entrepreneurial success is that the U.S. has a desirable infrastructure and competitive edge. Along with massive payouts for high-quality ideas, the U.S. economy also provides a fairly manageable landscape for easily establishing new businesses. And if a business were to fail, owners wouldn’t face the shame and stigma that they might in differing economies.

Entrepreneurs Are Happy in the Economy

In 2013 the Global Entrepreneurship Monitor Report found that entrepreneurs truly are happier than other people. After surveying more than 197,000 entrepreneurs across 70 different economies, researchers found that American entrepreneurs reported the highest state of well-being because they don’t always suffer from the direct backlash of economic downfall. Instead of having to deal one-on-one with outside customers or other businesses, entrepreneurs are able to choose their clients in strategic ways that will help build their business.   

Whether these entrepreneurs are starting businesses from the ground up or are leading established organizations, nearly all reported a higher well-being than those who didn’t own or run a business. This was particularly true for women, who researchers found were even happier than male entrepreneurs.

Little Fear Of Losing A Job

In an economy that’s continuing to experience layoffs and budget cuts, entrepreneurs have found immunity. Because they are their own boss and aren’t under the thumb of massive corporate structures, entrepreneurs are able to flex and bend with an evolving economy without dissolving the business.

Furthermore, by protecting their businesses against economic turmoil, entrepreneurs have the ability to reap the benefits of prosperity. Not only do they have control over their business and can take pride in keeping their company safe from economic threats, but they also have the ability to grow an organization that can be passed from generation to generation without being morphed by economic influences.

How To Become An Entrepreneur

If you’re ready to become your own boss and build your own company without worrying about outside pressures from the economy, then it’s time to consider a career in entrepreneurship. At Bruges Franchising, we recognize the perks of being an entrepreneur and encourage you to join our franchise family to get your dream off the ground.

Backed by our proven support structure, endless resources, and a successful, reputable brand, you can reach your career goals quicker and easier than ever. Give us a call today to learn more about why partnering with Bruges is the right career move for you.

 

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