With many jobs drying up during the worst of the pandemic, employees were not sitting around idle just waiting for those positions to reappear. Many decided if the job they wanted wasn’t hiring, they would create it themselves and become Entrepreneurs.
The Philadelphia Business Journal recently had a piece discussing business growth in the country and the results are especially promising for Philadelphia. A report from LinkedIn has shown that when comparing the year before the pandemic started to the year Covid worsened, Philadelphia saw a 37% increase in new businesses started.
According to the report, that puts Philadelphia at number 7 for the top 10 cities with the fastest growth for entrepreneurs. Orlando claimed the number 1 spot, with 46% growth in the last year.
Such news bodes well for those concerned about the loss of jobs in the area. However, it is also encouraging for those who may have been considering starting their own business right now.
For those curious what industries seemed to be succeeding, education, fitness, and real estate were among the top professions for entrepreneurs.
Though also worth noting is that there was also a significant rise for entrepreneurs who were female entertainers. Philadelphia ranked high in this category, seeing a 27% jump over the last year.
There is little doubt that the pandemic can be attributed as the motivation behind all this growth. There has been a trend of entrepreneur growth throughout the entire country.
Prior to this last year, the country was actually in a 40-year decline in entrepreneurship, painting a pretty clear picture how people are reacting to Covid and its impact on the workforce.
To learn more about the business trends in Philadelphia, read the article from the Philadelphia Business Journal by clicking here.
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