The Pandemic’s Entrepreneurial Boom

A few years ago I subscribed to a free email newsletter called The Morning Brew.

Often, I try new email subscriptions and quickly tire of them; however, The Morning Brew has become a standard part of my morning. The email newsletter covers all the top issues of the day with brevity and cutting humor, which I enjoy.

The Facts

The Morning Brew is sent once a day and the January 19th Morning Brew really struck a chord with me. The first article was entitled, The Pandemic’s Entrepreneurial Boom Isn’t Over Yet.  The article stated that more than 5,000,000 new business applications were filed in 2022, according to the latest data from the US Census Bureau.  This equates to about 13,500 new business applications filed every day last year.  I quote ‘Whether this represents a testament to the country’s entrepreneurial spirit, and indictment of 9-to-5s, or simply a case of everyone seeing the same Tiktok about tax benefits of forming an LLC, it’s a sign that the pandemic era startup boom may be here to stay.’

A couple of sections down in the same newsletter they moved on to news from the Tech world.  Again, I quote, ‘Microsoft announced plans to cut 10,000 employees yesterday, and Amazon began a round of layoffs that will impact 18,000 people. These are just the latest layoffs of tech companies, many of which have begun thinning their ranks’.

The Trend

Anecdotally, we know that interest in business ownership and entrepreneurship has increased dramatically over the last number of years; however, the data supplied in the January 19th Morning Brew really brings together the factual data underlying many of the trends we’re seeing.  It’s rare in one newsletter to see so many clear indicators regarding where the large companies are going and how individuals are responding to the increased risk of employment.

(If you want to have a laugh in the morning while keeping up with the current news, give The Morning Brew a try for a week or two.  Who knows, it might become a part of your morning too.)

Wishing you an amazing February.

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