It has been an unexpected consequence of the pandemic that we’d experience an entrepreneurial boom. The number of companies starting out is way higher than in previous years. All around the world people are starting their own businesses.
The statistics all around the world are showing the same tendency. Something happened during the pandemic. It has caused a true entrepreneurial boom. Perhaps it’s a consequence of many people being laid off and then deciding to start their own businesses. Others have perhaps just had the time to finally develop the thing that they’ve been thinking about for years.
In the US and France, they registered an all-time high number of businesses in 2020. In the US there were no less than half a million applications for starting a business in July 2020. In France, in October alone, they registered 84.000 new businesses. This was a historical maximum. Many countries all over the world registered sky-high registration numbers. You can find more statistics on the startups’ frenzy on https://firstsiteguide.com/startup-stats/.
What kind of startups are emerging?
The startup boom spreads to many different areas and industries. It’s no surprise that many of the startups are in the technology industry. Most of these technology companies are working with decentralized technologies, the telecommunications market, or biomedicine. Many off-line services are being made online. The programmatic advertising market has also seen considerable growth. Many new virtual solutions like these are emerging in every field.
Aiding the global economy
Everything is pointing towards this continuing. So far, this entrepreneurial boom is having a very positive impact on the global economy in general. It seems like it will probably continue like this, at least for a while. It will probably help some bleeding economies and get them through the economic aftershock of the pandemic. At the same time, these economies can make it hard for newly started businesses to survive.
When starting a business
If you’re thinking about starting your own business as well, this seems like a good time to do it. The entrepreneurial boom is a clear indication of the good conditions for startups right now. You don’t need to have a massive budget to start a business. There are many types of businesses that you can start with a small budget. Many online businesses start out with a very small budget. You can also check out some tips on how to stretch your business budget at https://swiftheadline.com/.
Even though the conditions seem to be good right now, it is still very hard to start a business from scratch. There are many challenges, and most new businesses don’t make it. You need to think about branding and marketing from the very beginning. For example, the importance of a business name these days is enormous. So, if you’re thinking about starting a business, this is one thing that you should prioritize spending time on. A great tool to help you out is a name generator like the one at https://businessnamegenerator.com/.