In past recessionary cycles, many new businesses were started. More than half of the Fortune 2009 500 list of companies were begun in recessions or bear stock markets.
I started an employee contracting business during such a recession in the economy and stock market. With a single office, I soon had ten offices, with 74 around the country and in Canada, after 17 years, when I sold my company interest.
I employed well over 10,000 permanent employees, and a multiple of that number on a part-time basis.
All this without government stimulus or hand-out funds. The company had started from scratch with private capital and then sold stock to the public for additional financing. It made operating profits the years I was part of ownership and top management.
What we need today are more entrepreneurs starting up new business that creates real jobs, and less high-tax government standing in the way.
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