Maryland Educator Says 2011 Will Be Good For Entrepreneurs

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If you’re a college student graduating in 2011, one option for you when it comes to work is to start your own business. In recent years the prospect of lauching out on your own has been a daunting one as capital has been limited and the opportunities restricted.

Asher Epstein, managing director of the Dingman Center for Entrepreneurship at the University of Maryland’s Robert H. Smith School of Business is bullish for 2011 when it comes to entrepreneurs getting started. As always, global political uncertainty is a factor as is the possibility of yet another tech bubble. However, Epstein believes that those entrepreneurs who keep their eyes focused on opportunities will be able to meet the challenges as they come.

Hot Prospects

Among the hot areas Epstein sees in 2011 is clean tech which includes renewable energy and anything which can help solve problems plaguing our world including sustainable fuels and clean water. The Internet remains an important area in our lives with social media and Web 2.0 companies continuing to enjoy growth.

Epstein sees restrictions to capital loosening in 2011. That is important, because without funding very few businesses have a chance to get started or to maintain their momentum. He sees the angel investor community gaining renewed confidence to invest in start ups and believes that federal tax cuts will continue to prime the pump.

Less easy to come by are funds from lenders, such as banks, but if you already have a proven business in place, then your chances are good. That means if you’ve been operating a successful small business while taking classes, then you may be able to get funding. Ultimately, Epstein sees some good things with the continued restricions on lending – only the most deserving companies will get funded.

Getting Started

Starting your own business upon graduating this May could be the furthest thing from your mind. However, if you have a sound business plan in place and the optimism of an entrepreneur, then Epstein believes you should “go for it” with a healthy dash of caution too.

Source: University of Maryland

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Categories: Career Planning