Is Our Sour Economy Ripe for Entrepreneurship?

Monday, September 05, 2011

Summer Jobs (alovesdc/flickr)

The economy has yet to recover from the great recession as nation’s unemployment numbers remain bleak at 9.1 percent. That number is worse in Michigan, where the unemployment rate is 10.9 percent. One solution to this problem may be for more people to start businesses. The costs of starting up a business may be lower now than in pre-recession times.

For more on this, we're speaking with Nicole Christian, reporter and senior news editor at WDET in Detroit, and Henry Balanon, co-founder of Detroit Labs, which makes iPhone, iPad, Android and web applications


Henry Balanon and Nichole Christian

Produced by:

Hsi-Chang Lin

Comments [2]

Angel from Miami, FL

The only thing keeping the little fish from spawning are the bigger fish. Large corporations impede entrepreneurs in related fields of interest. Few innovators will work on the next high-capacity solar panel if power companies favour subsidized petro or coal. No one's going to develop the software of the future if existing tech companies acquire them and shut down their projects.

Everyone may be obsessed with perceived government influence in the market but the market is cut-throat enough to be detriment to itself if left unwatched.

Sep. 07 2011 11:22 AM

As soon as small businesses begin to see some success, federal, state and local taxes and regulations will be there to punish their success. The question to ask is why Detroit was once an economic powerhouse and what did government interference do to that city over the last fifty years?

Sep. 05 2011 09:27 AM

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