RonaldCandonga / Pixabay It’s no surprise that a workforce hungry for change, overworked and underpaid were looking for something different when the pandemic first hit our shores. While it may have caused millions of employees to rather work from home , or even worse, lose their jobs temporarily or permanently, Americans of all ages want to start a business.
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Q4 2021 hedge fund letters, conferences and more
DG Capital Finds Value In Equity Market Selloff
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Even after two years since the advent of the pandemic, employees are leaving the workforce behind en masse . According to the U.S. Census Bureau , more than 5.3 million Employee Identification Numbers (EINs) were registered in 2021. This is more than the 4.3 million recorded in 2020, with current predictions standing at 5.6 million for 2022.
As millions of Americans were faced with a tremendous challenge, either returning to work or finally pursuing their entrepreneurial ventures, a majority chose the latter thereof.
With 2022 already in full swing, slow economic recovery , and financial implications not affiliated with the matter shouldn’t lessen your chances to start a small business or perhaps invest in an upcoming startup. Small Businesses On the Rise
A recent Quickbooks survey which polled more than 8,000 American employees concluded that around 57% of surveyed individuals will be looking to start a business in the coming year. From this, around 20% will take the leap in 2022 to start their small business.
The same survey concluded the amount of new upcoming businesses in 2022 could hover close to 17 million by the end of the year.
But even with little money, and minimum startup cash flow, somehow millions of entrepreneurs and young startup owners have found a way to make their dreams a reality. Of course we can thank the ongoing government support, and investment guidance that has enabled so many previous full-time employees to become entrepreneurs within the last few years. Employees become Employers
The pandemic left a psychological tone to many Americans who have for years wanted to start their own business. That tone has now translated into many full-time employees leaving their corporate roles behind, as a way to pursue entrepreneurial endeavors.
For decades we’ve seen businesses as problem solvers , and at this very moment, there is a cohort of problems that are left to be solved by American entrepreneurs and small business owners. This was the sentiment of vice president of small business policy at the US Chamber of Commerce, Thomas Sullivan .
So what’s pushing people to start their own business?
A lot of contributing factors have become strong evidence of why so many American employees are leaving their permanent jobs. Some cite that:
Low job satisfaction
Toxic working environment
Financial reason Work-life balance Working from home or remotely Flexibility, and Being your boss is one of the main reasons behind starting a business. With government stimulus , additional savings, and ample time at home, so many workers finally realized that starting a business, even if it means they do everything themselves will help put a blow to their financial struggles. Feeding your Thirst for Entrepreneurialism For years we had the idea of starting a business but never knew what. At the same time, while we were spending an extended amount of time at home, we soon realized that we can actually turn our hobbies into a business idea, and then a plan , and then a reality.From baking, drawing, writing, building, cutting, and nearly everything you could imagine, Americans found that a simple hobby can easily become a lucrative business idea.There are enough of these stories covered on major media channels . Working part-time on your side hustle could mean you will need to juggle a lot more balls than what you’re used to. It also means you will sooner or later need to choose whether or not you’re willing to pursue this “hobby” no more full time and start making a business out of it.Anna Hay mentioned in a USA Today […]
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