BY MATT SENEKEREMIAN
DIRECTOR OF GOVERNMENT AND COMMUNITY AFFAIRS
The Coronavirus Pandemic has impacted the way we have lived. Businesses of all sizes were impacted and needed to change their way of operating. We started hearing about businesses downsizing or closing altogether. As businesses started to reopen, we continuously heard about labor shortages and “The Great Resignation.” While those stories represent the realities business owners, another story has also developed in response to the pandemic. Americans are pursuing entrepreneurship.
According to the US Census Bureau’s Business Formation Statistics, nearly 5.4 million new business applications were submitted nationwide from January through December of 2021. To put that in perspective, in 2019, 3.5 million business applications were submitted. In 2020, 4.3 million business applications were submitted. This positive trend is not going unnoticed.
In a recent NBC News story about this business trend, a new business owner shared the following realization “You realize you’re working overtime every week. If you’re doing it, you may as well be doing it to make your own company.” In this same NBC News story, Frank LaMonaca, a certified instructor for SCORE, said the pandemic opened an unexpected “window of opportunity” for people hungry to go into business for themselves. “What it did give them was the time to reassess the future of work in their life.” SCORE is a program that offers executive mentoring for entrepreneurs.
Vox published a report stating “While business applications have increased in almost every industry since the start of the pandemic, the highest jumps were in retail, especially for stores that only sell things online.” The information from the Census shows increases in new businesses in the transportation and warehousing sectors, as well as new professional services businesses including accounting, graphic design, as well as construction.
That same positive trend is seen in California. According to a CalMatters story from February of 2021, 442,324 business applications were filed in California in 2020, a 21.7% increase from 2019.
At the Fremont Chamber, we work tirelessly to support the entrepreneurs and business owners with their dreams. Through our various programs, we provide the tools to establish and grow their businesses. Whether it be advocacy, networking, or business fundamentals, the Fremont Chamber is here to help you take charge of your business.
DIRECTOR OF GOVERNMENT AND COMMUNITY AFFAIRS
The Coronavirus Pandemic has impacted the way we have lived. Businesses of all sizes were impacted and needed to change their way of operating. We started hearing about businesses downsizing or closing altogether. As businesses started to reopen, we continuously heard about labor shortages and “The Great Resignation.” While those stories represent the realities business owners, another story has also developed in response to the pandemic. Americans are pursuing entrepreneurship.
According to the US Census Bureau’s Business Formation Statistics, nearly 5.4 million new business applications were submitted nationwide from January through December of 2021. To put that in perspective, in 2019, 3.5 million business applications were submitted. In 2020, 4.3 million business applications were submitted. This positive trend is not going unnoticed.
In a recent NBC News story about this business trend, a new business owner shared the following realization “You realize you’re working overtime every week. If you’re doing it, you may as well be doing it to make your own company.” In this same NBC News story, Frank LaMonaca, a certified instructor for SCORE, said the pandemic opened an unexpected “window of opportunity” for people hungry to go into business for themselves. “What it did give them was the time to reassess the future of work in their life.” SCORE is a program that offers executive mentoring for entrepreneurs.
Vox published a report stating “While business applications have increased in almost every industry since the start of the pandemic, the highest jumps were in retail, especially for stores that only sell things online.” The information from the Census shows increases in new businesses in the transportation and warehousing sectors, as well as new professional services businesses including accounting, graphic design, as well as construction.
That same positive trend is seen in California. According to a CalMatters story from February of 2021, 442,324 business applications were filed in California in 2020, a 21.7% increase from 2019.
At the Fremont Chamber, we work tirelessly to support the entrepreneurs and business owners with their dreams. Through our various programs, we provide the tools to establish and grow their businesses. Whether it be advocacy, networking, or business fundamentals, the Fremont Chamber is here to help you take charge of your business.
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