The pandemic-era small business boom by Erica Pandey published by Axios (2022).
“Americans are starting new businesses at a rapid clip — and that’s a great sign for the economy.
By the numbers: There were 5.4 million applications to start companies in 2021, a 53% jump from pre-pandemic levels in 2019, according to census data.
A third of those were classified as “high-propensity applications,” meaning they’re new businesses that are likely to create jobs.
And entrepreneurs aren’t slowing down: There were 430,000 applications in January, per data released this week.
What’s happening: A slew of factors are coming together to create an environment ripe for entrepreneurship.
The pandemic gave people time and resources — in the form of stimulus checks and money saved by staying home, among other things — to start new businesses, Julia Pollak, a labor economist at ZipRecruiter, tells NPR.
The rise of the stay-at-home economy created new business opportunities in areas like food delivery, human resources consulting and e-commerce…”
