Have you ever thought of being your own boss?
Before the coronavirus pandemic started, a lot of things were different. One of those things is that there were more people around the world working for others and not for themselves.
After the pandemic started, individuals and companies realised that running a business can be fully digital. Many employees were sacked from big corporations, and a new wave of entrepreneurs were born. Many small businesses were then created.
In July 2020, applications for starting a business had a 95% increase compared to July 2019. And that number is just in the US. There was also a significant growth of entrepreneurship in other countries, such as France, Japan and the United Kingdom.
One of the biggest reasons to start a business, other than being unemployed during a global pandemic, is that most entrepreneurs realised that they could achieve a greater sense of purpose and happiness working for themselves. Especially if they had worked at big companies, they might have felt like a number. Furthermore, they are able to witness their own impact and development.
Not only does the surge of start-ups impact the global economy positively, but it also means there is a market to be explored and conquered.
As consumers’ needs change due to the pandemic, this is a new market that heavily encourages innovation. And that means there is a need for more businesses to satisfy these needs.
Even in this market that’s growing and could easily become crowded, start-ups still have a leg up over bigger companies. They are small enough to take action swiftly in response to a dynamic market, and that’s essential to a successful business.
The pandemic may have ravaged us with deaths and uncertainty, but it also has given countless of individuals courage to do something different. To start something new and live a life with conviction. Maybe you have an idea as well and could contribute something to this new economy?