To say that the US economy has been affected by the ongoing pandemic would be an understatement. In the first few months, the closures wreaked havoc on businesses of all sizes. In turn, employees have been fired, put on leave or sent home to work remotely, forever changing the landscape of the way Americans work.
Things have improved since those days. The widespread availability of COVID-19 vaccines has facilitated business growth, prosperity and employment. And, while leaves and layoffs were once too frequent, the lack of manpower to fill vacant jobs has now become the norm as job seekers look to better opportunities and opportunities. higher wages. In fact, recent data has shown that the United States now has more job openings than at any time in history, and the trend is expected to continue, at least for the foreseeable future.
However, the abundance of open jobs is not the only lasting effect the coronavirus has had on business. One of the most significant changes in the US economy has been a surprising new growth in small businesses, which are popping up in almost every industry. While these companies are struggling to fill vacancies right now, that doesn’t seem to be stopping the growth. Not in some industries, anyway. But which industries are seeing the most growth in new small businesses?
Using data on business training from the US Census Bureau, SimplyBusiness has broken down the industries with the most recent business applications. Businesses were classified by the Census Bureau based on their 3-digit NAICS code, indicating the sub-sector, and ranked according to the total number of new business applications submitted between January 1, 2019 and October 4, 2020. The number Average new businesses per week were also included, but data only goes up to October 4, 2020, so it’s important to note that this is a flawed view of how business applications have changed. during the coronavirus. Here’s what that data showed about the industries with the most recent small business growth.