Chamber member startup ZenBusiness, a one-stop-shop to start, run and grow a business, announced that more than 100,000 micro businesses have been formed using the platform since the onset of the pandemic, proving that the US is in the midst of a micro business renaissance. As the pandemic changed how people work, it also provided an opportunity for many to finally realize their dream of becoming a business owner and take the first step towards financial independence.
To coincide with the company’s growth, ZenBusiness released data highlights and trends that they have seen this past year relating to small business formations, including:
- 39 percent of new businesses founded over the past year on the ZenBusiness platform were women-owned as opposed to 30 percent the year before, highlighting a jump in women entrepreneurs during the pandemic
- Entrepreneurs over the age of 65 saw the biggest jump in growth (180 percent)
- Regionally, California (38k), Texas (24k), Florida (16k), and New York (11k) led the way for new businesses formed over the past year on the ZenBusiness platform
A survey of ZenBusiness customers who formed their businesses in the past year also provided insight into how COVID has impacted business formations. Highlights include:
- 63 percent of ZenBusiness customers who formed a business in the past year said the pandemic played a role in their decision
- 80 percent of respondents said that stimulus checks would be reinvested directly into their businesses
- 65 percent expect their businesses to grow regardless of economic conditions
