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2020 has been a banner year for startups. Go figure.

Infographic: New businesses are opening left and right. Why?

1605795558839 e1605813380963 - 2020 has been a banner year for startups. Go figure.

*Based on the number of new tax ID applications.

Are you a budding entrepreneur? Check out the Small Business Association’s business guide here: sba.gov/business-guide. And contact us for financial and tax advice.

©2020


Infographic: Commercial real estate is in a slump, but home sales are going gangbusters.

2020 has been a banner year for startups. Go figure.

Most Americans (between one-half and two thirds, depending on the survey) say they want to run their own businesses. Many, despite a raft of social and economic challenges, overcame the odds and opened shop this year.Number of new businesses reached 13-year high*
  • 1.1 million businesses opened up through mid-Sept. 2020
    • 12% increase over same period in 2019
  • Contributing factors:
    • High unemployment rates
    • Ample savings provided seed money
    • Changing consumer behavior offered new opportunities
Source: U.S. Census Bureau, Wall Street Journal*Based on the number of new tax ID applications.Current business owners say they wanted to:
  • 66% - take charge of their own destiny
  • 55% - enjoy greater work flexibility
  • 44% - be financially independent
  • 43% - have greater work satisfaction
  • 39% - improve work/life balance
Source: Vistaprint survey of 1,500 Americans, December 2017