Despite persistent economic inflation, entrepreneurship in the U.S. is surging.
The U.S. averaged 430,000 new business applications per month in 2024, according to a report by the U.S. Department of the Treasury, notching a 50% increase since 2019. Over the same time, applications for businesses most likely to hire employees jumped 30% to 140,000 per month.
“Small businesses play a disproportionately large role in our labor markets: half the Americans that work for a private business work for a small one,” the Treasury Department said. “And with entrepreneurship surging since the pandemic, that role is poised to grow further. Americans are finding it an especially good time to start a small business.”
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
