Entrepreneurial Boom hits as people reconsider careers

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As the COVID-19 pandemic created major changes to the workforce, the U.S. is in the middle of an entrepreneurial boom.

FAYETTEVILLE, Ark. (KNWA/KFTA) — As the COVID-19 pandemic created major changes to the workforce, the U.S. is in the middle of an entrepreneurial boom.

About a year ago, Carl Dunn decided to take measure of his career as a digital marketer.

“I was like, you know what. I need the money. Yeah, I know how to do a fence,” he said.

He figured he would help build one fence and be done with it.

“Somebody on that street asked me to do a fence. I got two more clients off that one. So I’ve seen real quickly, if you do a good job, other people will notice,” Dunn said.

People kept noticing and Dunn Co., a new small business, was created. Startup Junkie has seen a lot of similar stories lately, especially during the pandemic.

“They learned they didn’t necessarily want to sit in traffic or sit in a cubicle or anything like that and they kind of started to realize that they had the opportunity to take their own fate and own careers into their own hands and a lot of people did that through entrepreneurship,” Startup Junkie Executive Director Caleb Talley said.

According to the U.S. Chamber of Commerce, 4.3 million people applied to start a new business in 2020. That is a yearly increase of 24%. And that number is expected to be higher this year. Talley says that is great news for economic growth.

“It’s a part of the fuel that drives the engine of our local economy. Small businesses hire the vast majority of Arkansans, the vast majority of Americans,” he said.

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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