Are you Unemployed? 5 Tips For Starting A New Business

Being unemployed is not fun as a matter of fact it’s during this time that you need the most support. One of the ways that Your Passionate Business is supporting you is by connecting with you via social media. You can connect with YPB in the following ways:

YPB has been watching the unemployment trends from the Bureau of Labor Statistics (BLS/ BLS just released their information about the unemployed for July 2010 and unfortunately the numbers did not improve. Both the numbers of unemployed persons, at 14.6 million, and the unemployment rate, at 9.5 percent, were unchanged in July.

This is alarming because it basically means that the status for the unemployed did not improve. Can a solution be created that would help improve the numbers? What can be done for the unemployed to improve their situation? One thing that can be done is to show them how to start a business whether it is online or offline.

A few more statistics were:

Among the major worker groups, the unemployment rate for adult men (9.7 percent), adult women (7.9 percent), teenagers (26.1 percent), whites (8.6 percent), blacks (15.6 percent), and Hispanics (12.1 percent) showed little or no change in July. The jobless rate for Asians was 8.2 percent, not seasonally adjusted. In July, the number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 6.6 million. These individuals made up 44.9 percent of unemployed persons.

With 44.9 percent of the unemployed people being on long-term unemployment benefit, one way to create a solution would be to start researching for ways to start their own business. Research is suggested as the starting point because it will help you create a firm foundation. It will help you determine what industry will be best for you to start a business in and can help you become focused.

Below are the 5 tips you should keep in mind while doing your research:

  • Create a list of skills or tasks that you like to do that you could turn into a business.
  • Start with a subject that you are familiar with so that you can create a firm foundation from it.
  • Use resources like the public library or online information portals like or to gather information and statistics.
  • Make sure that you compile all the information you gather into a document or notebook so that you can keep it handy.
  • Don’t be afraid to ask for help by contacting industry experts. They could help you fine-tune your business idea and even help you get started.

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Stay positive while developing your new business even though unemployment can be disappointing and disheartening starting a business could be your solution. This could become a sustaining factor for you. To encourage you to develop a business, below is a video of someone who started a business at a young age to help his family come out of poverty.

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6 comments on “Are you Unemployed? 5 Tips For Starting A New Business
  1. rosie says:

    This is cutting edge information. It is empowering because you are sharing valuable resources that are essential in the job search.
    Thanks so very much

  2. rosie says:

    What are your suggestions for benefit plans when starting your own business?

  3. rosie says:

    I like what the young man in the video said about developing a healthy fear of not doing what you want to do. Yes, “get uncomfortable”.
    The other young man just must keep on speaking so all our young and old can hear him. I wish him a lot of success.

  4. Kim Beasley says:

    Keep in mind that benefit plans can be expense but are necessary, one of the first places you can start your research is the National Association for the Self-Employed ( You should also check with your state government to see if there is a state wide insurance program for the self-employed. An article that you might consider reading is “Health Insurance 101“. It has great points that should help you create a list of things that are important regarding a benefit plan when starting your own business.

  5. Kim Beasley says:

    I’m glad this was helpful to you.

  6. rosie says:

    What are your views about baby boomers starting a business when they find themselves unemployed? Many may feel that they are too old. What resources can you suggest for those who need that extra motivation to keep on keepin on? What best practices can they read?
    Thanks for this post. I know I made a mistake with two of my comments. I thought the young man in the video was two different people because I was listening to the audio only and not looking at the video late last night. Also, I know I talked about this post as a good reference for those looking for a job and not those who have lost their job and seeking to start a business.Yet, those resources here are also powerful tools for job search decisions.
    Keep up the great work!

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