Should You Use Your Severance Pay to Start a Business?
Christine Marchuska was laid off from her job on Wall Street in May of 2008, and she left with a big severance payout.
Marchuska was always interested in fashion while growing up, but she wondered whether it was a good idea to use her severance check to start a business. In the end, she decided to take her payout and launch what she calls a “chic green/organic” clothing line in June 2008. “I spent six years on Wall Street,” she explains. “I loved finance, but I did start to think about doing something else.”
There are many recently laid-off people like Marchuska with big, fat severance checks in their pockets. While the idea behind severance pay is to provide an economic cushion to help laid-off employees pay for their expenses while looking for work, many jobless people I’ve spoken with are pondering whether they should take the cash and launch the dream company they’ve always wanted. Read more:
Technorati Tags: Christine Marchuska, Janice Washington, Arizona’s Small Business Development Center, Neil Anderson, The Courage Group, American Airlines, The New York Times, NCET, Nevada’s Center for Entrepreneurship and Technology, entrepreneurs, Eve Tahmincioglu
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