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COVID & Entrepreneurship: How the Pandemic Is Propelling New Businesses Forward

Covid & Entrepreneurship: Business Trends During a Pandemic incfile At Incfile, we're seeing more entrepreneurs than ever choosing to start a new business-even in the middle of a global pandemic. 1 Top 5 States for Business Formation in 2020 TX New York 7,674 • Texas 14,961 Number Georgia 8,241 of Businesses Formed • California 14,961 Florida 9,221 Sources: Incfile Research FL 2 Top Industries for Business Formation in 2020 Number of Businesses Formed 20,455 11,074 11,348 8,023 Ecommerce Consultant Real Estate Internet/ Web-Based Service Sources: Incfile Research 3 Data to show shifts in consumer behavior of SMB owners say support 71% from their local community has been critical to their recovery efforts. of Americans say that the top 57% reason to shop local is to support the local economy. of small businesses face more 31% competition from smaller or local companies compared to six months ago. Data to show industry shifts 4 of U.S. small business owners have pivoted to new approaches since the start of COVID. 60% of small business owners globally have experimented with a new approach to sales, from launching ecommerce websites to changing their point of sale systems. 67% of businesses are making more 65% sales online. of small businesses have 25% increased their use of digital payment options. incfile References

COVID & Entrepreneurship: How the Pandemic Is Propelling New Businesses Forward

shared by kevin39 on May 24
We all can agree that the past year has been a tough one. As the world continues to deal with the pandemic, we’re seeing more and more people looking to start businesses. This may seem counterintuit...



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