Call it a silver lining of the pandemic: Entrepreneurship is booming in Agen slot, with applications for new businesses rising at the fastest rate since 2007.
The pandemic itself is the likely accelerating factor, given that unemployment rates are still near 8%. Many of these folks are forgoing the job search in favor of striking out on their own and pursuing their passions, with 27% of “pandemic founders” indicating that they were previously laid off from their full-time jobs, according to a recent survey by JustBusiness.
More than half of this new crop are first-time founders, with 1 in 5 (20%) saying that they did not have plans to start a business at the beginning of the year. In that sense, you could say that the pandemic has been a direct catalyst for their current ambitions – a spark plug that has motivated folks to seize the moment.
Even among the experienced founders, 70% said the pandemic altered their business plans or forced them to make changes that may impact their success. Whether that means shutting down just months (or weeks) after opening or postponing a launch altogether, it hasn’t been easy. There’s no denying that we’ve all been through a trauma – something the small business ecosystem will likely feel in various ways for years to come.
As a result, today’s founders are stepping into entrepreneurship with fresh eyes and heightened expectations of all vendors, mirroring how today’s young consumers have higher expectations in terms of mobility, user experience and general internet savvy from the brands that serve them. 2020’s founders’ preferences will reflect the on-demand nature of our current culture, favoring instant gratification, flexibility, scalability and ease of use from any company that hopes to be included in their tech stack.
This shift is creating a massive opportunity for the tech companies that serve and support the small business ecosystem. As business owners, our preferences and tendencies will directly influence which tech companies emerge as winners, securing a spot in our startup toolboxes, while pushing out legacy partners who have failed to adapt.