Become an entrepreneur from an unemployed

In tough economic times, many people have or will face lay-offs and periods of unemployment. However, this type of adversity may just be the spark to fuel the creativity to try something different and venture into entrepreneurship. This is exactly what some have opted to do by turning their unemployment into opportunity. No one desires to be in a situation where they have no financial security or stability. But if you are engaged in some specific business, you will be able to eliminate all those insecurities from your life.

Starting a business does not always involve a costly investment, and many successful entrepreneurs have been able to launch very profitable businesses on a minimal budget right from their own homes. Consequently, going from unemployment to entrepreneurship takes diligence, patience, persistence and ambition but numerous successful business owners prove that it can be done.

If you have just received a pink slip, make sure that you apply for every benefit you are entitled to including unemployment insurance, severance pay, sick leave payout, etc. You will certainly need to maintain your current living expenses so it might be wise to establish a budget during this time of transition. If you are entitled to some type of severance package, this cushion will be able to sustain you as you take steps to start a business of your own. Additionally, these funds may also help with necessities to start the business.

If you do not have any source of income to sustain you and ineligible for unemployment benefits, let’s deal with that first. Because you do require income to live unless you have a rich relative who can help you out in your time of need, seek temporary employment opportunities that will help pay bills and put food on the table in the interim. As many companies are downsizing and consolidating, this situation presents upside for those seeking only temporary work. There are tons of agencies and companies that can help you find both long-term and short-term temporary employment.

If entrepreneurship is the goal, you may have to resort to temp work in order to build your business. It is very important to have realistic expectations and a plan but doesn’t allow your temporary situation to deter you from your ultimate goal. In fact, use these temporary opportunities to your advantage and don’t be discouraged. You might even acquire a new skill or two that can easily transfer into your own business.

If you don’t have any idea from where to start your new business, you should definitely educate yourself at first in different areas of business. It is important to démarrer une entreprise with proper knowledge and skill, and you can do it if you have training and support. From the Quebec School of Entrepreneurship, you can take necessary training and courses to become a successful entrepreneur.