As consumer spending rises, more U.S. workers are quitting their jobs to start their own businesses, according to CorpNet.com.
Despite weaker-than-expected job growth, unemployment is at a five-year low and consumer spending reached an all-time high of $10.8 trillion in the fourth quarter of 2013, the U.S. Bureau of Economic Analysis reported.
A steady increase in small-business startups, falling unemployment and the rise in consumer spending is "the perfect trifecta," Nellie Akalp, CEO of business filing services firm CorpNet, said in a news release.
"The consumers are there, companies are hiring again, the economy's on track for the best growth" since 2005, she said. "So if you've ever wanted to be your own boss, the time is now."
Ms. Akalp said January saw a major shift in legal filings for establishing startup businesses as consumer malaise begins to fade.
Not only "are market conditions and consumer willingness ripe," she said, "but there's an increased comfort in purchasing and transacting online."
Ms. Akalp cautions, however, that although quitting your job may sound appealing, the decision must be carefully considered.
"This is a good time to start a business if you have a passion you've been wanting to pursue and you're willing to put the work in," she said. "A decision to quit for no other reason than to get back at your boss will result in unemployment, not empowerment."
CorpNet (click here for Spanish-language site) provides business filing services for established and startup enterprises across the country. Ms. Akalp has written articles for Forbes and Entrepreneur, and is a regular contributor on Fox Business News.
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