In a post-pandemic shift, more people are starting and running their own businesses, a new study finds. But more businesses are closing, too.
Americans are starting and running their own businesses at record rates, part of a post-pandemic shift toward entrepreneurship led by women and people of color, according to a new report.
But experts say many small businesses founded in recent years may be reaching a critical turning point. Economic uncertainty, higher costs and a slowdown in consumer spending have created new challenges for nascent companies. Business closures ticked up last year, to 5.2 percent from 2.9 percent in 2019, researchers found.
Thomas, 36, spent the next several months juggling therapy and cosmetology classes. In early 2021, she started her own business doing makeup and microblading, a form of semi-permanent eyebrow-tattooing. She rents space at a nearby salon, but says she hopes to one day open her own studio that specializes in services for Black and Brown people in the entertainment industry.“It’s been hard, but a good type of hard,” she said. “At the end of the day, I’m working for myself.
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