If you were an entrepreneur support organization or, say, a startup news publisher in 2019, you were operating in seeming futility — completely on faith. Americans had started fewer and fewer businesses each year since the 1970s. One advocate told Technical.ly in 2019 that Millennials were on track to be the least entrepreneurial generation in American history.
The pandemic changed everything. Business starts surged. Even today, three years after the fall, Americans are incorporating businesses at rates not seen since the 1980s. And the surge has come from nearly every demographic group — Black women in particular have started a disproportionately high share of new businesses.
That may be a contributing factor to the stubbornly tight labor market. More than ever before, hiring managers have to pay attention to startup trends — for economic activity, yes, but also because the workforce is bending with its impact. Nuisance or not, on the whole, though, the American entrepreneurship boom is a bright light of the economy.
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