The United States is facing its worst economic crisis since the Great Depression, with unemployment in the double digits. But for people looking to start a business, one expert says the road ahead might lead to opportunity.
Rebecca White directs the University of Tampa’s Lowth Entrepreneurship Center. She says people out of work might find it easier to create a new job rather than find one.
“You're probably going to see an increase in what you might call necessity entrepreneurship,” White said.
After 9/11, there was a burst of startups focused on security. The Great Recession led to new companies in real estate and finance. White said entrepreneurs will likely focus on education in the coming years.
“There's going to be all kinds of educational technology products that are going to come out of this, or products that are already out there that are now suddenly going to have gained some traction,” she said.
Examples include products to help with distance learning, and the mental health of college students.
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