Having your own small business and being your own boss — a potent aphrodisiac to most people who need to make a living but do not want to live and die an employee.

Many are raring to be freed from nine-to-five jobs that drain the energy but never really pays enough to compensate the efforts. Only one solution comes to mind: set up your own business.

Why venture into a small business?

Why not? Records show that small businesses do account for a big chunk of most countries’ economies, especially during crises. As unemployment woes continue, more and more people will look into building their own businesses to earn a living. We can expect the mushrooming of small businesses, particularly personal businesses, particularly those that will entail manageable capitalization.

Can a small business thrive during a recession?

A crisis brings out the creativity and entrepreneurial skills of people. As the economy slows down, the micro business sector gets to challenge itself to keep afloat. This is a time to create, to innovate and to come up with a fresh approach to doing business.

There were many small business entrepreneurs that took the plunge in the middle of a recession and have since then grew to be corporate giants today. FedEx, Burger King, IHOP Corp, Wikipedia Foundation Inc., GE, Hewlett-Packard, CNN and even Microsoft Corp. are just some of the recession startups.

The secret? The brains behind these companies had the eye to zero in on market demands that were being satisfied by no one. They were astute enough to identify the areas where there are unfulfilled needs. And there lies another secret…unfulfilled NEEDS. When there is a need, there is a demand. And if you can respond to that demand, then you’re more than halfway there.

How Can One Find The Right Business To Get Into?

Your choices should be within your skills or expertise, and your passion. It is very difficult to venture into something you know nothing and much less care about. The stakes are high and there may just be little room for failure but with hard work and lots of knowledge and experience, there is little reason not to succeed. And with the emergence of the Internet, small businesses need not spend as much to market their companies. The information superhighway has roads wide enough to let everyone in. Web presence has never been taken advantage of as much as it is being done so now.

Indeed there is no business like a small business if you put your heart and your mind into it. The challenge of the recession is no match to the determination of someone who sees the light at the end of the tunnel.