The difficult job market has led many business professionals to pursue higher degrees from campus-based or online schools, or launch their own entrepreneurial ventures.
For many students, the recession has provided inspiration to present their ideas to investors, BusinessWeek reports. Some of these budding small business owners see their plans as a final effort to become successful, while many others are starting their companies slowly so they will have something to fall back on if they are forced to leave their current positions.
Business schools and potential financiers are helping these individuals by hosting business planning competitions, through which prospective entrepreneurs can present their ideas to angel investors and venture capitalists. Interest in these opportunities has grown over the past year, as top business schools report that submissions to these contests have increased by 20 to 40 percent.
Members of the millennial generation - those between the ages of 18 and 29 - are the most frequent participants in these events, and many of them are resistant to the prospect of a traditional business career path, according to the news source.
Small business owners typically earn between $34,706 and $74,220 during their first year, according to Payscale.com, a research company.