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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 is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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