SmallBusinessNewz

You've been waiting for the older person holding a senior management position to get the hell out of the way and let some new blood move up the ranks. Only problem is, the economy stinks to the point where everyone from Warren Buffett on down thinks a recession has been going on for months.

The logical position would be to step away and try something else, as a small business owner. But the banks clamped down on small business lending as the recession that everyone but Federal Reserve chair Ben Bernanke appears to see created problems for lenders and their customers.

BusinessWeek put up a list of reasons why Gen X isn't real thrilled with the corporate lifestyle. "Is it time to jump off the corporate train?" Tammy Erickson asked in her article.

Perhaps not. A little uptick in optimism as cited in the NFIB Optimism Index doesn't look like a great reason to step away from the corporate paycheck into an economy of uncontrolled gas prices, inflation of day to day costs, and tight-fisted lenders.

If you have decided that the person ahead of you on the corporate ladder needs a wedgie from you as you head out the door to start a small business, good luck. But do some preparation first.

Get some cash put aside for expenses and write up a detailed business plan. Research the desired market as much as possible, so you can cater to its needs or wants. See if the Small Business Administration can help on the financial side.

It might be worth a shot.