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• W307276475 abstract "During periods of economic turmoil and uncertainty, employment opportunities are often greatly diminished. The Great Recession beginning in 2007 caused such a labor market disruption, hitting new college graduates especially hard. Under such conditions, business ownership may appeal to some as a conceivable substitution to finding a job. The present paper sought to investigate the predisposition of students in a college of business to operate their own business or to work for an established organization. Further, measures for fear of success and fear of appearing incompetent were examined to see whether either, or both, influence either preference. Both underclass students and graduating seniors were surveyed. Results showed that while many students at both levels expressed a preference for operating their own business, considerably fewer believed it to be a likely outcome. Also, males expressed a higher preference than did females for operating their own business. The relationship of the fear of success and the fear of appearing incompetent with the decision to operate one's own business was inconclusive. ********** In 1865 Horace Greeley, in an editorial, made the oft quoted statement: Go West, young man, go West and grow up with the country. In 1865 the call literally meant to go west, the western part of the United States, to find one's fortune. Fast forward 150 years and the encouragement to the young has little to do with gender specificity or geographic relocation but instead career rethinking. Go forth young person and become an entrepreneur and grow your economic destiny with the country may be more apropos in the 21st century. Such an exhortation has taken on more meaning since the beginning of the 21st millennium. Sum, et.al. (2011) reported: Labor market conditions for most demographic groups of U.S. workers have been quite weak in recent years (2008-2010) due to the adverse employment impacts of the Great Recession of 2007-2009 and the anemic job recovery during the first 18 months following the trough of the recession in June 2009. Every age group of workers under 55 years old was less likely to be employed in 2010 than they were in 2000, with the nation's younger adults under 30 years of age faring the worst. (italics mine) Greenhouse (2011) cited a study by Shierholz wherein she concluded: unemployment expected to remain above eight percent well into 2014, it will likely be many years before young college graduates --or any workers--see substantial wage growth. With both shrinking job opportunities and stagnant wages it is not surprising that young people may be motivated to reevaluate plans for their post college lives. This is especially true for those who leave college with a high level of debt incurred to pay for their education. According to Godofsky, et. al. (May, 2011), 59% of recent college graduates owed money to pay off their student loans. Recent college graduates entered the working world with a lot of debt -- on average, $20,000 ... (page 17). Faced with uncertainty that comes from an economy in constant flux, the enticement and perhaps even the fascination of self employment may appear to some to be the only oasis in an otherwise barren landscape. According to a survey conducted by Harris Interactive (commissioned by the Kauffman Foundation) in 2010, 40% of the 5,077 young people surveyed (aged 8 to 24) indicated that they wanted to own their own business and be their own boss. Within this larger sample, 38% of those enrolled in college said they hoped to start their own business someday. In addition to providing one with a job and an income, what would be the attraction of owning one's own business? The all-encompassing reason may be discretion. In other words, in many individuals' minds it would seem reasonable that owning and running one's own business provides one with, most importantly, something to do and adds the power to choose what to do, with whom to do it, hours of work, amount of income, making decisions that carry weight; in short, all the perquisites that come with being 'boss. …" @default.
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• W307276475 date "2012-12-01" @default.
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• W307276475 title "Students' Propensity toward Business Ownership." @default.
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