Flip side ‘big wipe’ - the prosperity of a small business

From January to November, less than 5 million new businesses were launched, which is a 55 percent jump at the same time in 2019.

source: https://ibb.co/FnNBn05

The growth of the new business model suggests that the coronavirus epidemic has created an environment in which entrepreneurs and beginners can thrive and new things can emerge.

“This time is really fertile. We have seen a huge increase in new businesses since the epidemic started, ”said Julia Pollak, a senior economist at ZipRecruiter. "There are a lot of opportunities out there."

Government data shows a recorded gap between the number of job vacancies and the number of unemployed people - 11 million compared to 7.4 million. While that is a headache for the hiring of labor managers and directors, economists and labor market experts say there is a significant silver line.

Census Bureau's Business Formation Statistics shows an increase in the number of people filing tax returns to start new businesses. From January to November, just under 5 million new business applications were submitted, exceeding 55 percent over the same period in 2019. In addition, a significant number of them are what the Census Bureau refers to as “high-profile applications,” meaning that they may create new job opportunities.

"There are a few big issues going on," said Dave Carvajal, CEO of Dave Partners, a hiring company focused on the technology industry. "There is a lot of money going into business-based initiatives."

Much of it is driven by the rise of digital consumers and workers - and the epidemic does more.

"The way people want to work and the way they think is changing - and the new technology companies that are developing these technologies and programs are helping that," Carvajal said. “The thinking of these people is quite different from that of any previous generation. The effects of the epidemic greatly accelerate these behaviors. ... It was a real catalyst. ”

You realize you are working overtime every week. If you do, you probably do it to make your company.

Frank LaMonaca, a certified consultant at SCORE, an entrepreneurial support program, said the epidemic had opened up an unexpected "window of opportunity" for people hungry to do business. "What gave them the opportunity was to re-examine the future of their careers in their lives," he said, adding that SCORE's two most popular workshops focused on business and advertising on social media.

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Danielle Neal, a second-grade teacher in Baltimore, worked with SCORE advisors to hone her business skills. "I loved teaching, but ... it was time for me to leave, actually," he said. He therefore resigned in May at the end of the school year to transform what was once part of a program to help small businesses use social media to become a full-fledged business.

“The market is there. Small business owners want to get involved, but they do not understand the world of social media, ”said Neal, adding that he hoped he would be able to grow enough next year to hire. “For a long time, I like to hire people. ... I want my agency and other employees. ”

For some former bees, the change was to see their work responsibilities repeated as a result of the epidemic. The pressure to negotiate office-based programs simultaneously with online programs when his Florida-based employer reopened caused Chelsea Kidd to resign.

“I was back in the office again and supported many visible efforts. It has been a great challenge to work in two ways, ”he said. “You see, you work overtime every week. If you do, you may be doing it for the sake of your company. "

Kidd, also a SCORE consultant, resigned in late 2020 and moved from South Florida to Montana this year to launch SiteWell Solutions, a health consultation business focused on remote workers.

The ability to work from home enhances employees in many ways.

"I've had a good business life for about 15 years, [and] I was ready to take the initiative," he said.

LaMonaca said: “One of the things I think is a permanent change is the ability to work from home. It expands staff in many ways. ”

The combination of the need for localized talent is not only good for entrepreneurs. It is also promising from a macroeconomic point of view. Researchers say that one of the factors that has contributed to the decline in the economy after the Great Depression was the lack of new business development.

The current start is a great benefit to some of the many workers who have used the epidemic caused by the epidemic to take the next steps in their careers.

"I think what has changed is that, after the epidemic, this whole vision alone opened up a whole new world of possibilities," said Anand Balasubramanian, who left the job where he had worked for six years because greater acceptance in communication gave him opportunities. across from Ames, Iowa, where he lives.

Balasubramanian said he has good relations with his colleagues and management in his old job, but recently got a job where he started in New York City, with about a dozen scattered employees.

"About my job, where I wanted to go, my personal journey that I wanted to start from the ground up," he said. “I want to learn how to form a marketing team. I will ... have the right attitude to read. ”

Carvajal said the fierce talent competition gives employees the confidence to play high-quality gambling games or decide to go it alone.

"In a fragile economy, people tend to stay longer in their jobs and will tolerate less employment," he said. “In our current economy, people feel so secure that they are kind of accessible and just like that.