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Economy causing many to fear entrepreneurship

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The economy is continuing the put the reins on many Americans who have innovative ideas and hopes of starting their own business. According to recent research conducted by Harris Interactive, 24 percent U.S. adults said they want to start their own business, but only 6 percent are currently trying to achieve their dreams.

Small businesses are believed to be one of the main drivers of the U.S. economy, and the growth of small firms may mean an economic turnaround. Despite the importance of small businesses, 66 percent of Americans said they would not risk starting a business in this economy.

“Many entrepreneurs are seeking opportunities but are being met with stringent requirements from banks and other traditional lenders that disable their dreams,” said Paul Aitken, CEO of borro. “Since our launch in the U.S., we’ve distributed over $3 million in loans to individuals in the U.S., many of whom were initially turned town by banks.”

While the economy may be reeling, there are still people brave enough to attempt to start their own venture. By purchasing small business insurance, there Americans can be protected from the potential collapse of their firm.

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