Even though employment seems to be increasing, according to the Department of Labor, unemployment among people ages 20 to 24 is 15.8 percent. The lack of employment opportunities for the graduating classes of 2009 and 2010 has led some college students to change their focus – if nobody will hire them, self-employment may be the way to go.
Major colleges in the Philadelphia area have programs to encourage and support budding entrepreneurs such as Temple University – Fox Business School – Innovation and Entrepreneurship Institute, Drexel University – Le Bow College of Business – Baida Center for Entrepreneurship and University of Pennsylvania – Wharton School – Entrepreneurship Program. The Philadelphia area also has businesses, organizations and events to help young start ups get funding and network, in order to help them succeed and grow. Could this be the beginning of a perfect storm in Philadelphia?
The silver lining very well could be found on the cloud of this recession by checking some of the competition winners:
- Drexel University – Business Plan Competition
- Temple University – Be Your Own Boss Competition
- University of Pennsylvania – Business Plan Competition
