Date of Award

Spring 5-15-2011

Document Type

Thesis

Degree Name

Bachelor of Science (BS)

Department

Management and Decision Sciences

College

College of Business

First Advisor

Cristina Reiser

Abstract/Description

The 2007 financial crisis, otherwise known as the "Great Recession," has impacted the economy tremendously in the past three years. Businesses have been drastically impacted, as have the lives of workers in the United States. Many articles have been published about different aspects of the recession. One question that has not been completely addressed is how the Great Recession has affected small businesses and unemployment rates. The reason for addressing these two topics is because they are closely related to one another. Small business owners are reporting that there has been a decline in sales. Consumers are not willing to buy products if they do not have jobs. If small businesses are struggling, they will not hire employees, which results in the unemployment rate remaining high. Unemployment is directly affecting the way small businesses are operating, and the struggles of small businesses are directly affecting unemployment rates. Major themes that are presented in this question are defining a recession, factors that led to the financial crisis, history of past recessions, restraints for the emergence of new small businesses, the impact on small businesses, responses to the recession, and unemployment rates.

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