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The Great Recession’s effect on entrepreneurship

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  • Shane, Scott

Abstract

Though the recent recession was the worst downturn since the Great Depression, some observers argue that one silver lining is an upswing in entrepreneurship. Recessions, they claim, provide laid-off workers with the motivation to start their own businesses, and a recent study suggests that in 2009 the number people becoming self employed spiked to its highest level in more than a decade. Unfortunately, a careful look at multiple sources of data shows that the Great Recession was actually a time of considerable decline in entrepreneurial activity in the United States.>

Suggested Citation

  • Shane, Scott, 2011. "The Great Recession’s effect on entrepreneurship," Economic Commentary, Federal Reserve Bank of Cleveland, issue Mar.
  • Handle: RePEc:fip:fedcec:y:2011:i:mar24:n:2011-4
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    Cited by:

    1. Terjesen, Siri A. & João Guedes, Maria & Patel, Pankaj C., 2016. "Founded in adversity: Operations-based survival strategies of ventures founded during a recession," International Journal of Production Economics, Elsevier, vol. 173(C), pages 161-169.
    2. Willis, David Brian & Hughes, David W. & Boys, Kathryn A., 2018. "An Unconditional Quantile Analysis of the Determinants of Self-Employed Income across Regional Economies: An Initial Assessment," 2018 Annual Meeting, August 5-7, Washington, D.C. 274498, Agricultural and Applied Economics Association.
    3. Michael W-P Fortunato & Theodore Alter, 2015. "Community entrepreneurship development: an introduction," Community Development, Taylor & Francis Journals, vol. 46(5), pages 444-455, December.
    4. Nabil Abou Lebdi & Katrin Hussinger, 2016. "Startup Innovation during the Past Economic Crisis," CREA Discussion Paper Series 16-27, Center for Research in Economic Analysis, University of Luxembourg.
    5. Yu, Li & Orazem, Peter F. & Jolly, Robert W., 2014. "Entrepreneurship over the business cycle," Economics Letters, Elsevier, vol. 122(2), pages 105-110.

    More about this item

    Keywords

    Recessions; Small business; Self-employed;

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