With the unemployment rate in Hartford rising to 5.4% in February 2017, up from 3.7% in December 2016, according to the Bureau of Labor Statistics, it’s becoming important for people to realize that though they may be unable to get a job, there is always the option of creating their own. This could be through innovation, or by setting up their own business, and becoming self-employed.
SUCCESS THROUGH INNOVATION
There have been many examples across the state of those who have found success through innovation, such as Shoreline Biome, a biotech startup working from the University of Connecticut Technology Incubation Program, which has developed an innovative microbiome sequencing technique.
Shoreline Biome’s innovation came from the fact that the startup’s founders were going to be laid off and may have needed to use unemployment benefit if they found themselves jobless. Instead, they got to work innovating.
Not all successful startups have to be involved with app creation, though. Innovation can come from anywhere, with two brothers founding Obvia LLC. Mark and Scott Keeley are designing blades for wind turbines with the goal of making them more efficient.
One thing links all of these people and their startups, and that is their entrepreneurial spirit. Without it, the Keeley brothers, Shoreline Biome’s co-founder Thomas Jarvie or Dan Dvoskin of Autobeacon could have created their new businesses.
SMALL BUSINESSES FINDING SUCCESS
Not every business is new, though, and some have been building for a very long time. Just recently, Transcription Plus, LLC was announced as the winner of the Home-Based Business category in the Small Business Week 2017 Connecticut awards, awarded by the U.S. Small Business Administration. Transcription Plus was founded in 1989, and the perseverance of founder Mary Goehring goes to show how effort and passion can combine with an entrepreneurial mentality.
Of course, understanding how you can create your own startup, or act on your entrepreneurial ideas can be difficult, particularly if you have experienced the knockback of unemployment. But you shouldn’t worry, as there’s a startup for that in the community, too. Candace Freedenberg has founded Untapped Potential, with the goal of contributing to job creation, economic growth and helping people understand how important mentorship is. The company has found success by offering services which teach people how to retain or refresh their skills, or renew goals in their careers. As well as this, finding a niche has helped Freedenberg build her startup, as it also offers Flex-Return Engagements, which is like a mid-career internship, offering new skills, contacts and helping people build their confidence so they can advance their careers in the future.
If you are currently out of work and have been inspired by some of these local startup stories, then you might also consider setting up your own business. Start by brainstorming your experience and any ideas you may have for an innovative small business.
Do your research, speak to experts within your chosen industry, and put together a solid business plan, which you will potentially need if you require finance. Once you have thoroughly explored every aspect of your new business idea, you can then approach the process of marketing your brand and getting your name out there to the consumers of Hartford and beyond.
About the Author
Jess Walter is a freelance writer and mother. She loves the freedom that comes with freelance life and the additional time it means she gets to spend with her family and pets.
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