The Next 1000: How And Where Entrepreneurship Has Surged In The Past Year
16 Jun 2021
A once-in-a-generation explosion in entrepreneurship is taking place as founders bet on themselves in record numbers. MainStreet U.S.A is back in business—and stronger than ever.
When the Covid-19 pandemic brought the economy to a standstill, more than 30 million small businesses across the U.S. were cast into financial freefall. But from the downturn, marked by the highest unemployment rate since the Great Depression and a staggering 22 million jobs lost, emerged a surge in entrepreneurship—one that’s continued into 2021.
In February nearly 430,000 Americans filed applications for new startups, up 40% from February 2020. According to an analysis of U.S. Census data by the Economic Innovation Group, by the end of 2008, the first full year of the Great Recession, applications had fallen by nearly 230,000. By the end of 2020, applications had risen over 200,000.