According to the Commerce Institute, the data reveal new businesses continue to start up each year despite everything going on. For example, in 2021, 5.4 new business applications were filed, which was a 22.7% increase from the prior year. In 2022, the first quarter also saw significant growth in new business applications. The pace slowed for the remainder of the year but still shows that the increase in new business formation is not a temporary trend. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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