Self-employed in a recession

October 20, 2009 10:28:29 PM PDT
There is no question that this is a tough job market. The statistics are staggering: 15.1 million Americans are unemployed. There are many more applicants than available jobs. And for people who used to run their own business, getting back into the job market poses some unique challenges.

In 2006, the Modern Estate was launched. The brainchild of Linda Donnelly, the Modern Estate was a luxury home magazine showcasing architecture, design and technology in the New England region. In a short time, the publication won two national awards and had more than 140 advertisers pouring money into its pages.

Then the economic downturn hit, and nowhere did it hit harder than the luxury home market.

Linda financed the last issue herself, and then put the Modern Estate on hiatus. After putting her heart, soul and substantial resources into the magazine, she was denied unemployment benefits because she couldn't get out of the lease of her office.

Tory Johnson with Women for Hire says Linda should re-apply for unemployment since she paid into the system with her payroll she is eligible. But she admits the job market is tough, even for someone with Linda's diverse background.

Tory says often entrepreneurs bring a passion and a better sense of the big picture of how a business needs to be run. She says employers need more of that in this economy.

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