Between July and September, 1.6 million businesses were created in the United States, a quarterly record

The economy is weak, the future is uncertain, but much more is needed to discourage Americans: In recent months, the number of businesses that have started has escalated, a movement fueled by mass unemployment and cheap credit.

"It's not as surprising as it might sound," says John Dearie, president and founder of the Center for American Entrepreneurship.

"People create companies because they lost their jobs, and because they have the money to do so," he explained.

Interest rates are at historic lows, banks are lending money, and savings have risen thanks to government aid.

Between July and September, 1.6 million companies were created in the United States, a quarterly record.

The crisis generates initiatives

“The pandemic really encouraged young people and adults to launch their businesses. The reason is very simple: people lost their jobs, "observed J.D. LaRock, head of the Network for Teaching Entrepreneurship, is an entrepreneur training organization operating in 12 countries.

"People see that the world is changing, and that there are new needs," the ideas of companies "respond to those needs born (of the crisis) of COVID-19," he explained.

Since the pandemic rocked the economy, his organization welcomed "many, many adults" with long-standing ideas "that they hadn't had the opportunity or the money to pitch."

This is the case of Leland Lambert, 38 years old. "In the middle of June they told me I would be fired," says this former operations manager at a reception center in Salt Lake City, Utah.

When he found out that he would lose his job, he was "rather happy." With no prospect of finding a job quickly, he started a personal coaching company, an idea that had been spinning in his head for years.

«I always dreamed of helping people to do their best. (…) But, I had a job, therefore I told myself that I could think about it during my free time. And then I lost my job (...) and decided to jump in, "he summarized.

To adjust his idea, Lambert returned to his studies for six months, after which he does not rule out seeking a part-time job if his company does not take off quickly.

Acceleration of trends

The crisis put 22 million Americans out of work. Half were able to recover their jobs, but 8.4 million people are still unemployed, some still with the benefit of public subsidies, others without the right to that money anymore, not counting those who saw their income drop drastically.

At a time when some sectors such as gastronomy or tourism suffer, creating your own business is sometimes the only way to earn a living.

It is difficult to know which sectors benefited from this situation.

John Dearie points in particular to activities “linked to the COVID-19 crisis. For example, food delivery »via companies like Uber, which asks its drivers to create their own company.

All online shopping delivery services - via Amazon for example, which also requires the creation of a business to work - have good prospects, estimates John Haltiwanger, professor of economics at the University of Maryland.

«El COVID-19 acelera tendencias ya en curso en la economía», observa. Es el caso de las ventas por internet.

There are "many opportunities" in this field, because "part of these changes will be permanent, and the companies that facilitate them will work," he estimated.



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