Mapped: America’s Entrepreneurial Spirit During COVID-19
Despite the risks of opening a business during a global pandemic, new data from the U.S. Census Bureau reveals that the entrepreneurial spirit is alive and well in the United States.
In total, there were 492,133 new business applications in January 2021—an increase of over 73% year-over-year (YoY).
The region with the highest growth rate was the South at 84% with more than 220,000 new business applications in the region in January of this year. Mississippi had the highest percent increase at 164%, with over 6,000 new applications in January 2021.
Here’s a closer look at the number of total applications by state and region:
Notably, in the last month or so, there has been a sharp increase in the number of business applications, bouncing back from a dip between July and December 2020.
The growth rate from December 2020 to January 2021 stood at 42.6%, with the biggest change happening in the Midwest, where applications have gone up 48.6%. Here’s a look at the biggest changes in applications by region since December 2020:
|Region||Number of Applications in January 2021||Percentage Change from December 2020|
Note: Business applications are measured by (Read more...)