BLOOMBERG – The surge of U.S. business formations in the back half of 2020 has been one of the pandemic’s many surprises.
After cratering by 30% in the weeks following the March lockdowns, paperwork filed by prospective businesses started growing in June and finished the year ahead of 2019’s tally by almost a quarter, according to a U.S. Census Bureau analysis of federal tax documents.
It was the highest annual total on record, according to John Haltiwanger, an economist at the University of Maryland.
The upswing in entrepreneurship comes against the backdrop of mass closures of established small businesses as the coronavirus lockdowns shuttered shops and kept people at home. The National Restaurant Association estimates that 17% of U.S. restaurants — or about 110,000 establishments — have closed either permanently or for the long term. Read more.
Photographer: Matt Odom/Bloomberg
As a senior vice president at Cookerly, Matt helps organizations protect and advance their reputations and bottom lines through strategic communications programs. Using creativity, planning and flawless execution, he works with a team to deliver compelling public relations campaigns that produce results and support clients’ business objectives.
As senior vice president at Cookerly, Mike Rieman specializes in building and maintaining relationships with the media and has an excellent track record of landing significant placements in print and broadcast media including USA Today, Wall Street Journal, Bloomberg and Money Magazine.
As vice president of Cookerly, Sheryl Sellaway uses her extensive corporate communications background to lead consumer PR efforts, deliver strategy for marketing programs and share expertise about community initiatives.
