HAYMARKET, Va. - When Chase Hoover graduated from Virginia Tech in the spring, he didn’t have much luck finding a job.
Hoover, who majored in hospitality and tourism, looked for jobs in the Outer Banks and in the Washington area, he said.
“No one was really hiring due to the economy,” he said.
So Hoover, who lives in Haymarket and graduated from Battlefield High School in 2006, decided to go into business for himself.
“I decided to start my own bait and tackle company, as fishing has always been a passion of mine,” he said.
Hoover founded Hoover’s Bait and Tackle, an online store, in June.
Hoover, who runs the business with the help of his stepbrother, Bobby Lyttle, who will graduate from Virginia Tech this year, said business has been good on his site.
“At first, business was pretty good, had a few sales off the bat from some friends and friends of friends,” Hoover said.
When business started slowing down, Hoover devised an advertising plan and saw sales pick up again, he said.
Hoover is one of a growing number of people nationwide who, after having trouble finding jobs, are going into business for themselves.
According to 2008 statistics from the U.S. Census Bureau, the most recent available, an average of 2,356 people go into business for themselves every day.
Internet-based stores, like Hoover’s, are among the fastest growing industries for the self-employed, according to the Census Bureau statistics.
According to the Kauffman Index of Entrepreneurial Activity, which measures self-employment and small business growth, the number of new businesses in the United States rose to the highest rate in 14 years in 2009, despite the recession.
The highest rate of entrepreneurship growth was found among 35- to 44-year-olds, according to the Kauffman Index.
For now, Hoover considers his business a side project and also works for his dad’s business in Manassas.
“I am still working for my dad so the business is a side project for me right now, but hopefully I can turn it into something greater over time,” he said.
For more information, visit www.hooversbaitandtackle.com.
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