en-tre-pre-neur noun 1. someone who organizes a business venture and assumes the risk for it
According to a recent report, more new businesses were launched in the third quarter, than in any other in U.S. history. The data comes from the U.S. Census Bureau’s business formation statistics.
Between July and September, more than 1.5 million startups were founded. That’s a 77% increase over the second quarter. Yes, it appears many Americans are taking their futures into their own hands.
Obviously, the vast majority appear to be workers who are newly unemployed due to the global pandemic.
The second group, however, is a bit more interesting. Virtual workers, who are using the time saved by not commuting, to develop business plans and launch companies. The mindset appears to be, “if my job can disappear with no warning, I need to be prepared.”
As a Business Broker, this helps explain why we’ve seen a constant level of eager buyers during COVID-19. Not all entrepreneurs seek to start a business from the ground up. Many will form an LLC with plans to buy an existing business.
With the market full of eager buyers, Business Owners who’ve considered selling should be preparing. The first step is consulting with a professional Business Broker.
Call South Florida Business Brokers by Sunbelt for a free Valuation (754) 300-8651.