As we wade through the tsunami of negative business and financial news that is presently engulfing us, I’m reminded of a philosophy articulated by a fictional character. French film star Yves Montand played world champion race driver Jean-Pierre Sarti in the landmark 1966 John Frankenheimer film “Grand Prix.” He said “When I see something really horrible, I put my foot down. Hard! Because I know that everyone else is lifting his.”

Is this time of economic chaos the time to push---hard? The story of the entrepreneur is the story of pioneers and America itself. As a group we tend to be pushy people, pushing boundaries in search of something new or personal redemption. If we are lucky, big sections of society will follow along, anxious to be a part of the new thing. But sometimes the entrepreneur walks alone, shouting into what seems to be a void, hoping that somebody will listen.

As we witness 401-K retirement plans being reduced to 201-Ks and a pillar of American industry, the legacy automotive companies receiving the last rites, there is fear across the land. A few days ago I spoke with a harried executive at Hilton Hotels which was taken private in a deal with the Blackstone Group. Feeling the stress of falling revenue and constant budget cutting, he told me he felt they were being “reamed by the rigid rod of reality.” That is a pretty colorful description of the general mood at enterprises of various sizes right now.

Last night I attended a class on business management for present and aspiring small business owners. There were about twenty people in the room who were at various stages of business ownership from startup to managing rapid growth. They were serious students of entrepreneurial knowledge and the questions they asked the instructor were insightful. The only nod to present economic conditions was to acknowledge that it takes an extra level of preparation and persistence to find many types of loans these days. I was impressed that nobody was whining about the conditions or leading a chorus chanting that the sky is falling.

Yes, the world is suffering a financial crisis that seems to mystify and infuriate as well as shaking our confidence. And no, small business is not going to escape the consequences of the spreading global mess. But that doesn't mean that it's a terrible time to start a business.

According to Canadian economist Benjamin Tal, "many small and medium-sized businesses are poised to outperform the rest of the economy as it emerges from the impending recession because their flexibility allows them to move quickly to capitalize in areas of accelerating growth and make cost-saving adjustments"

Consider the following:

• Over 50% (16) of the 30 corporations that make up the Dow Jones industrial average got their starts during recessions.
• Disney began during the recession of 1923-24.
• Hewlett-Packard was begun during the Great Depression (in 1938).
• Microsoft began during the 1975 recession.

I’ve often said that when your frustration with a job situation rises to be a fraction higher than your fear of tackling the business owner’s life, you’ll take the leap. Many prospective business owners believe that the best time to start a business is in a recession, because if you can make it in a recession, you can make it in anything. Now this is no time to start just any old business. Some sectors of the economy such as clothing and electronics retail are and will be hit harder than others. Think of the ice cream stand on the beach in the cold rain and you'll get the picture. You have to do your homework and choose carefully.

In fact, it is this tendency of unemployed and under-employed individuals to become more entrepreneurial during recessionary times that creates the steam that moves the economy out of recession. New businesses that begin during a recession create the jobs that move the economy back on track.

I love learning the lessons that history can offer us. Take the last major recession for example. During 1991-92, self-employment was at an all-time high of 7.7%. During 1999-2000, it hit a 50-year low of 6.6%. Moreover, during the last recession, it was the laid-off white-collar executive who was most likely to start a business: In the early 90s, roughly 25% of downsized managers over 40 started their own company.

So here we are facing a level of uncertainty that would probably rank at 7.8 on the Richter scale. The times are lean, getting leaner and perhaps even meaner. Part of the reason for so much entrepreneurship during lean years is that people often are left with little choice. The thought of looking for work when no one seems to be hiring will diminish your appetite for looking. Given an alternative between that and starting a new business, the new venture often wins. There is no perfect time and there is no perfect business. Also times like this remind us that there is no posse riding over the hill on white horses to save us. The entrepreneurial spirit is what it takes and this is a grand time to push the pedal to the metal.