by Jonathan Brinckman, The Oregonian Thursday May 21, 2009, 8:22 PM
Two weeks after Jon Garrison lost his job at Jive Software, which shed 25 of its 150 employees in October, he launched his own company. Swift Notion Software is now going strong. And Garrison, who just got back from a three-week business trip to Toronto, loves being his own boss.
"Ideally, I would have liked to have chosen the starting time myself," said Garrison, who works out of his Hillsdale home. "But I've always wanted to have my own company."
The speed of Garrison's reincarnation is exceptional, but the fact that he re-created himself is not. Startup creation accelerates during economic downturns as the newly unemployed strike out on their own, making silk purses out of sows ears.
"Down markets are great times to start a company," said Wayne Embree, managing partner of Reference Capital Management, a Tigard-based investment company. "When people get laid off or choose to take buyouts, both startup founders and employees are created."
One measure of that trend: The number of business licenses in Portland is up 10 percent from the recession's start, 59,398 as of mid-May compared with 53,952 in December 2007.
Certainly, down times bring their challenges for entrepreneurs. First, there's the problem of supporting yourself while the new company gets off the ground. And getting outside investors is even more difficult.
"Venture money is much harder to come by right now," said Linda Weston, executive director of the Oregon Entrepreneurs Network, a nonprofit that provides tools and training for new business owners. "Just like everyone else, venture funds are conserving their cash, saving it for companies they have already invested in."
But Weston said that angels -- wealthy individuals who back startups -- are still getting behind really good ideas. And interest in forming companies is clearly rising.
Read the rest of the article HERE
Two weeks after Jon Garrison lost his job at Jive Software, which shed 25 of its 150 employees in October, he launched his own company.
Swift Notion Software is now going strong. And Garrison, who just got back from a three-week business trip to Toronto, loves being his own boss.
"Ideally, I would have liked to have chosen the starting time myself," said Garrison, who works out of his Hillsdale home. "But I've always wanted to have my own company."
The speed of Garrison's reincarnation is exceptional, but the fact that he re-created himself is not. Startup creation accelerates during economic downturns as the newly unemployed strike out on their own, making silk purses out of sows ears.
"Down markets are great times to start a company," said Wayne Embree, managing partner of Reference Capital Management, a Tigard-based investment company. "When people get laid off or choose to take buyouts, both startup founders and employees are created."
One measure of that trend: The number of business licenses in Portland is up 10 percent from the recession's start, 59,398 as of mid-May compared with 53,952 in December 2007.
Certainly, down times bring their challenges for entrepreneurs. First, there's the problem of supporting yourself while the new company gets off the ground. And getting outside investors is even more difficult.
"Venture money is much harder to come by right now," said Linda Weston, executive director of the Oregon Entrepreneurs Network, a nonprofit that provides tools and training for new business owners. "Just like everyone else, venture funds are conserving their cash, saving it for companies they have already invested in."
But Weston said that angels -- wealthy individuals who back startups -- are still getting behind really good ideas. And interest in forming companies is clearly rising.
Read the rest of the article HERE