MORE WORKERS ARE GOING OUT ON THEIR OWN

A recession could accelerate the pandemic trend of employees becoming entrepreneurs.

- EMMA PATCH

Lakshmi Balachandra is a professor of entrepreneurship and a fellow in the National Science Foundation’s Technology Innovation and Partnerships Directorate program.

The pandemic unleashed a flurry of new entrepreneurs. If the economy goes into a recession, do you think that trend will continue? Yes. In fact, history has taught us that it’s typical for economic downturns to coincide with rising rates of entrepreneurship. Necessity is the mother of invention. If people can’t find work or are dissatisfied with their jobs, they’re much more likely to want to start their own business and do something on their own.