Yes, 2009 was a difficult year for entrepreneurs and much of America. Unemployment is now sitting at a steady 10%, and many of the nation’s undaunted entrepreneurs have been forced to beat a retreat with their tail between their legs.
Yet there is much to celebrate and even more to look forward to.
America’s handling of corporate bankruptcy is something to be celebrated. It is this enlightened stance which is helping to pour much needed resources directly back into the stream of national productivity as quickly as possible.
Sure, capitalism took one on the chin last year, but America’s liberal attitude in dealing with these losses is serving the country remarkably well, helping to stave off complete ruin for essential blue chip companies such as General Motors and United Airlines, whose losses would only serve to displace thousands of loyal employees.
Though it is true that giving a pass to the hard working companies who have fallen on unfortunate times could also pave the way for freeloaders and epidemic spenders to take advantage of the system, but the broader picture tells a story of a methodology which is moving in the right direction.
For now, this broad-minded approach to corporate bankruptcy might be vital to reenergizing the entire world’s flagging economy. New (and more forgiving) bankruptcy laws are serving to both reduce America’s unemployment while also going a long way to keep once prosperous companies wading through the waters of an uncertain time.
Long term, this will help to encourage entrepreneurial thought, which has long been the life blood of the American economy.
2010 is a promising year for entrepreneurs; a step forward from the moribund 2009. And while this is certainly something to celebrate, it is the nation’s laws on bankruptcy that help to make the celebration possible.
