And new data from the US Census. 5.4 million people applied for small businesses licenses last year — a 53% jump from 2019, pre-pandemic. Global investment in startups shattered records in 2021, hitting $643 billion — 10 times what it was ten years ago.
Why do we care?
Historically, there have been more IT companies formed during down times too. I am not surprised by this data point and instead look at it as validation of the expectation. I’m expecting to see new smaller entrants in the IT space and new potential small customers out there.
Consider that some good news to go into the weekend with.