Constant firefighting and sleepless nights haven’t scared away the millions of Americans who dream of entrepreneurship. According to the US Census Bureau, the number of new businesses “likely to hire” employees surged to a record 1.78M — marking a 37% increase from the same period in 2019.

• This trend isn’t confined to traditional business hubs; cities like Atlanta are experiencing notable growth — fueled by layoffs that prompt workers to seek opportunities in more affordable areas.
• Wyoming saw the highest growth in likely employers, thanks to its low incorporation costs, making it an appealing destination for startups.

That’s good because… Historically, startups have accounted for ~20% of new jobs, according to Economist John Haltiwanger. Moreover, it helps decentralize power from large corporations, reviving entrepreneurship to its pre-Great Recession glory. Brendan Duke, Senior Director for Economy Policy at the Center for American Progress, notes that this resurgence has “the potential to reverse decades of stagnant business formation, could generate even more job creation, productivity growth, and wage growth for years to come.”