According to the U.S. Bureau of Labor Statistics, The number of unemployed persons increased by 787,000 to 14.5 million in May, and the unemployment rate rose to 9.4 percent. Since the start of the recession in December 2007, the number of unemployed persons has risen by 7.0 million, and the unemployment rate has grown by 4.5 percentage points. With unemployment so high, many Americans have turned to entrepreneurship and chosen to start a business as a way to take back control. These Newpreneurs™—Americans who are using the recession as a catalyst to start a business or develop an idea through entrepreneurship—are seeking innovative ways to thrive in this economy. While the risk factor may seem high, many of the biggest names in business today were born in a recession -- including Burger King, Microsoft, Hyatt, and HP. In this video, well-known champion of entrepreneurship Tom Peters, discusses this entrepreneurship trend and emphasizes why now is the best time to start a business. Peters will share the results of a recent survey on the current American perception of entrepreneurship during a recession and will offer advice for overcoming common fears and obstacles that may prevent many Americans from taking the plunge into entrepreneurship. Additionally, Peters discusses details about how you can apply for a $50,000 grant to turn your own business ideas into a reality. Alibaba.com and Inc. will accept entries at www.inc.com/newpreneur as of June 2, 2009. About Tom Peters: Fortune called Tom Peters the “Ur guru” of management (he doesn’t know what that means either but admits, “it sounds pretty good”), and compared him to Ralph Waldo Emerson, Henry David Thoreau, Walt Whitman, and H.L. Mencken. The Economist tagged him the “Uber guru” and BusinessWeek’s take on his “unconventional views” led it to label him “business’s best friend and worst nightmare.” The Bloomsbury Press book Movers and Shakers: The 100 Most Influential Figures in Modern Business, which reviewed the historical contributions of path-breaking management thinkers and practitioners, from Machiavelli and J.P. Morgan to Peters and Jack Welch, credits Peters for shaping management thinking. He has written over 20 books: his most notable, In Search of Excellence, remains the standard. He is also the author of, Re-imagine!, and several other books. Video from: Alibaba.com