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Americans hit by pandemic create startups at record clip

People are proposing business concepts that stem from the pandemic, or finally acting on business ideas they have had for a long time

Americans enduring a feeble economy and high unemployment because of the coronavirus pandemic are creating startup companies at a record pace.

The drive is favored by very low interest rates, banks that are eager to lend, and people with money saved up – both because no one goes out anymore and because of government stimulus aid.

“It is not as surprising as you might think,” said John Dearie of the Center for American Entrepreneurship. “People are starting new businesses because they lost their jobs. And because they have capital to start those businesses.”

Around 1.6 million companies were created from July to September, by far a record, according to the Census Bureau. Never before had more than a million startups emerged in one quarter in America. Read more via Rappler

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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