Riding the wave: America’s unstoppable startup boom
The entrepreneurial spirit is alive and well in America, with a remarkable surge in startup activity taking place. Despite the challenges posed by the covid-19 pandemic, there has been a significant increase in applications to form new businesses. While some of these new ventures may have initially seemed opportunistic or unusual, the overall trend is clear: Americans are embracing entrepreneurship like never before.
In 2020, a record-breaking 5.5 million applications were submitted to start new businesses. Although the pace has slowed slightly, the numbers remain significantly higher than pre-pandemic levels. This surge in startup activity has led to a notable shift in job creation, with new businesses now outpacing established companies in job growth. This trend highlights the important role that startups play in driving economic growth and innovation in the United States.
