Business Startups BOOMING!

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Although the world is in a deadly pandemic right now, there has been a recent boom in business startups. An economist at the university of Maryland, named John Haltiwanger, has worked with the US Census Bureau to track and document business creation and startups for years. Every time a business hires a worker they have to apply for an employer identification number with the government.

So as you would assume, around January or June of last year, the numbers bombed due to quarantine and people not knowing what to do. But then about six weeks into the pandemic the numbers rose and rose and kept rising. Haltiwanger even says, “They had to double check.” to make sure what was going on was actually going on. Haltiwanger says “The third quarter of 2020 is the highest quarter of applications we’ve ever seen.”. Due to the pandemic people are avoiding going out to stores outside so online retail is at an all time high. People are taking advantage of that which has formed a weird coronavirus economy where people don’t have face to face confirmation anymore causing online business to be super popular and skyrocket in sales.