During the mass layoffs in 2001-2002, thousands of corporate and factory workers were in panic and fear of losing their jobs. But for self-employed business owners, it was just a matter of tightening the belt. Someone self-employed has built some “muscle” to weather income fluctuations. In fact, someone with a “regular” job may have had less income security than a successful self-employed professional. Entrepreneurs are better prepared for a recession, because they know what it takes to give their revenue a boost.
The Bureau of Labor Statistics reported in April that both the unemployment rate (5.4 percent) and the number of unemployed persons (8.5 million) were essentially unchanged. Over the year, the unemployment rate and the number of unemployed persons were down by 0.8 percentage point and 1.1 million, respectively. Contrast this to 2009, when the overall unemployment rate rose to 9.5 percent of the labor force in June, the highest since 1982, when the rate peaked at 10.8 percent.
As the economic nosedive was occurs, self-employed professionals don’t waste any time. They vigorously promoted their services, expanded their network of contacts, created more sources of income, and invested in new courses. See Business Survey here.
With each recession, many professionals want to become independent, but may be too scared and have no idea where to start. We offer the guideposts. ~ Teresa M Young, President of Sign Biz, Inc.
How important are small businesses to the U.S. economy?
Represent 99.7 percent of all employer firms.
Employ about half of all private sector employees.
Pay 43 percent of total U.S. private payroll.
Have generated 65 percent of net new jobs over the past 17 years.
We meet people like this every day – smart, hard-working professionals with years of experience, who are either too tired of working for another company, want to make more money, or want to take control of their own future,” explains Young. “They are, often “corporate refugees” — forced out on their own.”
These challenges have created opportunities for some, as they are forced to look outside the normal channels for their future careers. In this search, if they stumble upon the sign industry, they have an “aha” moment,” says Young.
“They look around, and suddenly notice a rich and diverse industry that appears boundless. If they want a solid and streamlined start to becoming a world-class visual communications company, we are the only business development company offering that. And, we have worked with these transplanted corporate executives for nearly three decades, and understand the personal nature of such a career change.”
Young saw the need for educating and supporting such professionals as they researched enterprises and start-up opportunities. She launched a comprehensive corporate website back in 1994, and included a business plan tutorial. Today, the FTC, the Small Business Administration, and the Dept. of Commerce all report statistics about business success and failure rates. What is pointed out by these reports is how very little the public knows about why companies succeed, and why they fail. The Sign Biz website now features multiple studies and resources to education budding entrepreneurs.
“Unlike school, where training is measured at most in years, a career can be measured in decades. There is no equivalent to a college catalog listing required, recommended, and elective courses. Most people aren’t assigned a mentor, the working world equivalent of a college adviser. Very few people have a mentor who will promote and package their work for them. That’s where we can help. Sign Biz exists to provide aspiring entrepreneurs with knowledgeable business training, support and promotional opportunities for growing a business of their own,” she adds.
Sign Biz offers a full-service business development program for individuals entering the sign industry as entrepreneurs. The award winning program contributes to the unmatched success rate of their chain of sign companies. The education curriculum totals three weeks, and is complemented by a minimum of one week of home study, and a week of In-Store Training, plus more than 17 proprietary manuals and all equipment and extensive support services in perpetuity. For further information call (949) 234-0408 or (800) 633-5580.