According to a new study, a record number of people are starting new businesses, and a growing number of them are women and members of minority groups.
As the pandemic got under way in 2020, a record number of new business applications were filed. In excess of 5 million applications were documented in 2021 and 2022 and a record 5.5 million new business applications were recorded in 2023.
Finance firm Energy reviewed 1,300 proprietors who began their private company last year to find their qualities.
Ladies made up 49% of the new entrepreneurs reviewed. That is in accordance with the beyond quite a long while, however up unmistakably from 2019, when only 29% of new entrepreneurs were ladies.
However, investors are less interested in investing in women than in men. In 2023, only 3% of ladies business people got a confidential capital venture to begin their business, contrasted with 9% of male business people.
In 2023, black business owners made up 6% of new business owners, double the 3% rate prior to the pandemic. 13% of new owners were Hispanic entrepreneurs, up from 8% last year.
In the interim, more organizations are being begun as "side hustle," or organizations that supplement day occupations. 44% of business people who began another business in 2023 did as such while working another work, either parttime or full time, up from 27% in 2022.