Humans are hardwired to resist cutting back on their lifestyles. Lifestyles are only meant to get better and better – never worse.
In the recent Frugality survey (n = 11828) we see that a whopping 96% of economically active people who aren’t already doing so like the idea of starting an income generating sideline as a way of helping to make ends meet in these tough economic times. (Generating additional household income as a way to make ends meet comes second only to the idea of saving money on grocery spends.)
With so many budding entrepreneurs around it’s a wonder that our economy isn’t booming. Government is doing nothing to reward the endeavours of budding entrepreneurs and financial institutions do very little to help them out of the starting blocks. The government recognizes the potential for the development of small businesses as a way to stimulate economic recovery and growth, but unless they do something to make it happen, the enthusiasm of budding entrepreneurs will come to naught.