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Predict the impact of high unemployment on the number and nature of entrepreneurial startups. Speculate whether...

Predict the impact of high unemployment on the number and nature of entrepreneurial startups. Speculate whether the trend in entrepreneurship would increase or decrease in hard economic times and provide your rationale.

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As we know higher unemployment rate will decrease the bargaining power of the workers and leads to a lower rate of wages which makes it profitable for the firm to hire new workers at the lower wage rate. If the unemployment rate is higher it will increase the trend in entrepreneurship in hard economic times because entrepreneurs will hire the workers at the lower wage rate which help them to maximize the profit of the organisation. Also, during the hard economic times, organisations will not hire the workers at higher wages because it will decrease their profit, therefore, higher unemployment which leads to lower wages will lead to increase in the trend in entrepreneurship.    

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