Despite having faced repeated economic hurts, America has always managed to get through without collapsing to again become the world's strongest economy, but the latest recession, which has lasted for over 2 years, seems to have hurt the nation much more than ever before. The recent economic downturn has called into question the country's economic prospects, particularly the fate of entrepreneurs.

For a nation which has been marked by over 30 years of creation of new and innovative firms, the current times, where new creations are at an all time low, seem to be a bad news. Although there was a slight increase in the Kauffman Index of Entrepreneurial Activity for the year 2008, figures shared by the Bureau of Labor Statistics have dampened spirits by charting a decline in new establishments.

A recently released report by the Organization for Economic Cooperation and Development has further painted a bleak picture of entrepreneurship. Most of the 10 developed countries included in the report have seen a steady decline since 2007, especially the US, where the fall started as early as 2005 and has been seen well into the first half of 2009.

Experts, worried by the findings, have started pushing drives to ensure that entrepreneurs are encouraged to act at the earliest. Government policies aimed at the betterment of new firms are now being called for.