NASE Blogs

Necessity Entrepreneurs

May 20, 2009

Posted by Maureen Petron - We've been hearing a lot lately about "necessity entrepreneurs" - people who might not have been planning on starting a business, but did so after they were laid off.

Keith Hall, NASE's National Tax Advisor and the man behind the NASE TaxTalk program, encountered a number of necessity entrepreneurs at the tax seminars he hosted around the country this March. He said that at each seminar, there were always a handful of people filing their business taxes for the first time this year after unexpectedly losing their jobs.

The NASE grant review committee commented on it yesterday, too, after reading the April Business Development Grant applications. One applicant talked specifically of being laid off in November, and several others seemed to fit the bill.

And the Wall Street Journal recently featured four start-ups that described themselves as necessity entrepreneurs.

It's to be expected in today's economy. And hopefully, these necessity entrepreneurs will be so successful and fall so in love with self-employment, that they won't go back!

If you find yourself unexpectedly looking to start your own business, ChiefHomeOfficer.com has some words of wisdom on avoiding scams. Check out the article, "Think 'Career' not 'Biz Opp' when looking for home-based business." It has some great tips to think about.

You can also get help from the NASE consultants, even before becoming a member. Check out ShopTalk 800, ABCs of Finance and TaxTalk (and once you're started, EstateTalk can help you plan for the future!).