The percentage of job seekers starting their own businesses or relocating for new positions fell to historic lows in 2010, according to a new report that attributes the declines to an increased aversion to risk-taking just as the job market begins to show some signs of life.
In its latest quarterly Job Market Index, global outplacement and executive coaching consultancy Challenger, Gray & Christmas, Inc. found that over four quarters of 2010, an average of just 4.7 percent of unemployed managers and executives started their own firms. That is down from an average of 8.6 percent in 2009 and is, in fact, the weakest start-up activity on record since the firm began its tracking in 1986.
The recession created a particularly difficult environment for would-be entrepreneurs. The previous record low for start-up activity among job seekers was 2008, when only 5.1 percent of former managers and executives started their own businesses.
Full Report: http://www.challengergray.com/press/press.aspx