WJR Business Beat

WJR Business Beat with Jeff Sloan: Number of New Businesses Created in the U.S. Rising at Historical Pace (Episode 162)

We all know that the COVID pandemic has created a massive wave of job losses in the U.S. over the last year. So, with all of this economic hardship, one would reasonably assume that the rate of new businesses is at a standstill, right?

Wrong!

Over the past three months, more new businesses have been launched in the United States than in any other quarter in our history: Between June and September of 2020, nearly 1.4 million startups were founded.

Tune in to this morning’s WJR Business Beat to hear Jeff discuss this incredible wave of new businesses:

“If you’ve ever dreamed of carving your own path and doing it your way, now is actually a great time to do just that. While this crisis has undoubtedly turned everything upside down in so many ways, doing that has forced changes in consumerism and ways of doing business that are flinging doors wide open to new opportunities in almost every aspect of business. So, turn this time of crisis into your time of commitment and be part of the amazing wave of business startups sweeping the country today.”

– Jeff Sloan

Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.

Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!

Good morning, Paul.

I’ve got some surprising but welcome news to help us all get rolling on this Monday morning. We all know that the COVID pandemic has created a massive wave of job losses in the U.S. over the last year.

So, with all of this economic hardship as the backdrop, one would reasonably assume that the rate of new business startups in this most dreadful business climate is simply at a standstill, right?

Over the past three months, more new businesses have been launched in the United States than in any other quarter in our history.

Amazing, but true. Between June and September, nearly 1.4 million startups were founded. So, the question is, “why?”

Well, the biggest reason: a meaningful percentage of people who have been laid off are at the end of their ropes with the notion of corporate job security. The reality is, one day you have a job, and in an instant, it can be gone.

So, where do you go from here? Look for another job, or do you start a business of your own? Winning or losing based on how much effort you put in and creating your own sense of security has become a very appealing alternative.

Now, I don’t know about you, Paul, but there is something so gratifying and joyous about the idea of people choosing the pioneering and enterprising path of doing one’s own thing and being one’s own boss. Those ideals have been entrenched in our great American spirits since someone uttered the words, “Go west, young man!”

So, if you’ve ever dreamed of carving your own path and doing it your way, now is actually a great time to do just that. While this crisis has undoubtedly turned everything upside down in so many ways, doing that has forced changes in consumerism and ways of doing business that are flinging doors wide open to new opportunities in almost every aspect of business. So, turn this time of crisis into your time of commitment and be part of the amazing wave of business startups sweeping the country today.

I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat, on the Great Voice of the Great Lakes, WJR.

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