Entrepreneurs by nature are risk takers who make considerable sacrifices to try to make their business dreams come true. But in some places, unemployment is becoming such a problem that starting a business is looking more attractive than ever. A recent report in the Ann Arbor (Michigan) Business Journal notes that Michigan, which is among the nation's leaders in lost jobs, is one place where prospective entrepreneurs are becoming more active. The publication noted that a recent local event for entrepreneurs drew 550 people, while distribution of a local job listing publication for entrepreneurs and their companies has tripled in the past couple of years. "One of the positive effects of this horrible downturn that we're in is you do get that sense of, 'Well I have nothing to lose now. I can do what I've always wanted to do,'" Diane Durance of Great Lakes Entrepreneur Quest told the publication. It has been widely noted in the past that many successful companies like Microsoft got their start during a recession. Still, SCORE, a nonprofit organization that provides its expertise to small businesses, warns that there are some key mistakes entrepreneurs can make during a recession. Among these are: cutting expenses too slowly, keeping the same product and service mix, and reducing marketing time instead of focusing on it more.  |