Unemployed Americans are turning to entrepreneurship more than ever before, pushing the rate of startups to a 15-year high, according to a new study released today by the Kauffman Foundation. But while more individuals are starting businesses, they’re often opting to go it alone rather than creating companies with the target of hiring.
That trend could be troubling to the fragile jobless recovery currently under way in the U.S. “Far too many entrepreneurs are choosing jobless entrepreneurship, preferring to remain self-employed or to avoid the economic responsibility of hiring employees,” Carl Schramm, president and CEO of the Kauffman Foundation, said in a press release. Notwithstanding that 565,000 new businesses were created in 2010, the quarterly employer rate dropped to 0.10 percent last year.
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Author: Romy Ribitzky