The numbers are staggering. Not since the Great Depression has the U.S economy faced such a myriad of economic troubles as we're seeing lately.
Just a few moths ago, people were describing it as just "tough times". In the months since, those though times have blown into a full-fledged economic crisis.
In October, the U.S. unemployment rate hit 6.5 percent, the highest level in 14 years. Many experts expect that rate to jump to as high as 8 percent by the end of the next year.
More than 1.2 million jobs have been lost in 2008, according to the Dept. of Labor. That means less money in the pockets of everyday Americans, which translates into less money being pumped back into the economy.
But those numbers don't tell the whole story. The Wall Street Journal recently reported that, since January, 209,000 retail works have been scaled back from full-time to part-time hours.
Companies area laying off employees by the thousands, and those who are lucky enough to keep their jobs are seeing their wages decrease.
The credit crises has crippled established banks like Washington Mutual, toppled financial giants like Merrill Lynch and Lehman Brothers and buried insurance companies like AIG. All of this has sent the stock market reeling, as the Dow Jones Industrial has seen 40 percent of its value disappear since last December.
But there is light in the midst of the storm. You need to look no further than recent history to see that entrepreneurs with home-base businesses are poised to not only weather the economic crisis, but thrive in the midst of it.
During the worldwide recession in the early 1990s, while other companies began cutting back and slashing their payrolls, we experiences explosive growth. In fact,our astounding five-year run on the Inc. 500 began in 1990 and continued through the recession.
But that's only half the story.The other half is the thousands of people who stand to benefit from our unique business even in the middle of economic turmoil.
Consider for a moment what $500 or $1000 extra per month can mean in today's economy.
With thousands of families struggling to pay their bills and make their mortgage payments, how many of them would relish the opportunity to earn a few hundred extra dollars per month?
Posts
