Post-Pandemic Small Business Surge 

3 months ago · < 1 minute read

While COVID-19 undoubtedly took a heavy toll on the US economy, new research suggests that things may be turning around. It turns out that a lot of people took advantage of the rapid and massive changes from the pandemic (as well as having more time on their hands from everyone getting laid off and quarantined) to start new businesses. Who was best suited to start again? Entrepreneurs, of course.

It helped that the government was handing out trillions of dollars in financial assistance to keep people afloat during such an unprecedented event. One of the biggest hurdles for startups can be finding capital and with the pandemic assistance, people suddenly had the money and time to invest in something new. In fact, every time the government sent out money, there was a corresponding spike in monthly business applications. 

Naturally, researchers warn that it’s too early to say whether this trend is here to stay, but they remain cautiously optimistic. But this could be the beginning of a return to entrepreneurship that America hasn’t really seen in quite some time.