January 27, 2010
More Laid Off Managers Turn Entrepreneur
By Matthew L. Brown
The percentage of start-up companies being launched by previously unemployed managers increased to nearly 9 percent in 2009, according to Challenger, Gray & Christmas.
Start-up activity among jobless managers reached a four-year high during the year thanks to a summertime surge. In 2008, 5.1 percent of startups were launched by laid-off execs.
Challenger, an international outplacement firm, said the combination of an improving economy and a stagnant job market led to the surge in start-up activity among job seekers.
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