GUEST EDITORIAL: Startups are booming thanks to COVID
Dallas Morning News Editorial (TNS)
If you’re looking for silver linings in this pandemic-damaged economy, here’s a good one: the American entrepreneurial spirit is alive and well. In fact, COVID-19 seems to have uncovered it.
According to census data, there were 500,219 new business applications in May 2021 — an increase of more than 68% year-over-year. Obviously, the pandemic caused a deep dip early in 2020, but startups have more than recouped those losses, reaching levels not seen in decades.
According to a February report by the Ewing Marion Kauffman Foundation, about 380 out of every 100,000 American adults became new entrepreneurs each month last year. That rate rose over the previous year for every demographic category: genders, ethnicities, immigrant statuses and age groups.