WSJ: More New Grads Turning Entrepreneurial

December 22, 2009 by Emsi Burning Glass

image of Lightcast gradiant

The Wall Street Journal came out with an interesting look at new college graduates and their concerted effort to become entrepreneurial amid a staggering job market. The piece uses mostly anecdotal evidence to suggest that more young people are launching their own companies, like the centerpiece of the article — a 24-year-old M.B.A. grad who is creating a social-networking web site for musicians and music lovers.

But it also cites a National Association of Colleges and Employers report that says the class of 2010 will see a 7% decline in new hires compared to the class of 2009.

“Given the state of the economy, and the state of the job market, many young people are getting the push they needed to become entrepreneurs,” says Bo Fishback, vice president of entrepreneurship at the Kauffman Foundation, a nonprofit organization that promotes entrepreneurs. “It’s a lot easier to decide to launch your own company when there aren’t a lot of jobs out there.”

The article also mentions different training options for young entrepreneurs, including the Kauffman Foundation’s FastTrac, a 10-week boot camp offered across the US.