The increase in the number of people starting their own businesses in the US has surged to a 13-year high
- The increase in applications for new businesses in the US hit a 13-year high, according to an analysis of US Census Bureau data from the Wall Street Journal.
- Applications have increased as a result of small businesses across the country being forced to close their doors, both in-person and virtually, as a result of the coronavirus pandemic, according to the report.
- Launching and growing a startup is risky, and roughly 50% survive their first 5 years, according to the US Small Business Association.
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There was a record increase in applications for new businesses in the US in the last year.
New applications for an employer ID in the US “reached 1.1 million through mid-September, a 12% increase over the same period last year and the most since 2007,” according to an analysis of US