A Lot Of Laid-Off And Furloughed Workers Launched Startups Last Year, According To Salesforce

The struggle was real for American workers in 2020. More than 9 million employees ages 16 to 64 faced devastation as they lost their jobs because of COVID-19. The unemployment rate in the United States catapulted from 3.8% in 2019 to 8.6% in 2020. At the same time, small businesses became straight fire as they were created from the ashes of a wounded workforce. Salesforce, the cloud-based software company, recently conducted a survey of 206 new entrepreneurs to outline the factors influencing this shift in economic growth. It found that 32.9% of new entrepreneurs started their business during the pandemic because they were furloughed or laid off. This new wave of small businesses shared many interesting qualities as the global pandemic revolutionized the ability to be flexible with digital technology. Read more at Fast Company.