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Romy Taormina and Carla Falcone
Co-Founders, Psi Bands
Many women know that pregnancy will ultimately give them a little bundle of joy, but for Romy Taormina and Carla Falcone, it also gave them a booming business venture.
Their company, Psi Bands, was born out of both women's morning sickness. While Romy was helping with Carla's baby shower, the two rejoiced in their discovery of acupressure bands and how much they helped, but bonded over the fact that despite their efficacy, the bands weren't so pretty to look at. Surely, they thought, someone could be doing a better job with this uber-useful accessory. With the help of third partner Peter Schouten, who brought engineering and design to the table, Psi Bands was born.
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NEW YORK (CNNMoney.com) -- Desperate for a job? How does CEO with a six-figure salary and flexible hours sound?
With fewer jobs available and more people feeling shut out of the labor market, many would-be 9-5ers chose to go out on their own.
Challenging economic times can encourage entrepreneurial capitalism, according to a recent study by the Ewing Marion Kauffman Foundation. More than half, or 51%, of the companies on the Fortune 500 list this year began during a recession or bear market or both, according to the study.
And while it may be difficult to get off the ground, some start-ups are flourishing in the current economic climate.
Julie Trade became her own boss after her husband was laid off in 2007. With a background in marketing, the former stay-at-home mom, 40, launched her own marketing communications business from a spare bedroom in Scottsdale, Ariz., drafting advertising and press materials for her clients.
Since her husband struggled for nearly a year to find another full-time job and they had a young baby, "I figured the best solution was to work from home."
Trade thought she could earn a little extra cash for the family while her husband searched for a new job. But as the recession worsened, her business began to take off.
"I thought I'd get a couple of clients to make ends meet while he was looking for work," she said. "But what happened was my business kind of went crazy."
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If you run your own business, you’re in good company: According to Money Magazine, women are fast outpacing men in the race to start home-based businesses. There are over 9.1 million women-owned businesses in the U.S. making up almost 40% of all businesses, according to data from the SBA and NFWBO. These woman-owned enterprises generate $3.6 trillion in annual sales and employ over 27.5 million workers.
