Aug. 23--Consumers and businesses are hoarding their precious dollars. Uncle Pat is no longer willing to back your latest venture. And the economy is so grim that it's earned the nickname the Great Recession.

Launching a business during this turbulent time may seem like the last thing anyone should be doing. But that hasn't stopped many Michiganders from testing the startup waters.

The entrepreneurial bug has infected hundreds of the state's residents, many of them seeking new careers outside Detroit's shrinking auto industry. This summer, three daylong sessions at Wayne State University, packed with information about starting your own company, drew 1,220 people.

"The interest is so great that it's almost shocking," said Randal Charlton, executive director of TechTown, an incubator for startup firms located at the university. "In a down economy, people have two options when they lose their job. They can either go look for another job or create their own job."

Twentysomethings Dan Ryan and Patrick Lipa chose the latter. In late April, they opened the doors of their St. Clair Shores franchise business, College Hunks Hauling Junk. Though they've had to reduce their prices a little bit, business has exceeded their expectations.

"It's definitely extremely scary when it's a pretty bad economy. But we figured we'd roll the dice," said Ryan, who has shed 6 pounds from carrying dozens of old refrigerators and sofas out of people's homes. "I'm so glad I did it."

Resourcefulness needed in recession

Forming a new business in the midst of a depressed economy isn't for the faint of heart. Just ask Paul Chapman.

The 51-year-old Rochester entrepreneur hopes to sell early next year a new system that protects and secures anything that people put in the back of their pickup trucks. With credit for startup companies scarce, he has adjusted his business plans as economic conditions have worsened.

Instead of simply paying someone to make his product, Chapman forged partnerships with two local manufacturers who are contributing tooling and cash to the business in exchange for stakes in Cargo Solutions Group LLC. And the Sterling Heights company is closely watching every penny and using more conservative sales estimates to guide business decisions.

"The economy has certainly made it more difficult," said Chapman, a former General Motors Corp. engineer. "My sense is that we would have been on our feet quicker" if the recession hadn't hit.

Chapman is one of hundreds of Michiganders attempting to do the seemingly impossible: launch a successful business in one of the worst economies since the Great Depression.