The New York Times recently profiled a new trend in small business ownership. They identified that due to economic conditions, many recent university graduates who were unable to find work have overcome this challenge by starting their own businesses. The article highlights several success stories including one individual who, after finding himself in this situation, started the Young Entrepreneur Council. This council supports other small business owners by offering free resources, expert answers to questions, and even funding.
These “necessity” owners may differ from traditional owners who began their businesses primarily due to a passion for the craft or a desire for control. This group highlights the fact that the motivations for starting a small business today may create unique challenges for marketers in the future, and marketers should pay close attention to future shifts in the small business population overall.