When times get tough, people get entrepreneurial. According to historical data, when there have been recessions in the past, it is marked by increased entrepreneurial activity. Last year, in 2020, COVID-19 forced furlough, lay offs, and business closures. According to the Census Bureau, more than 4.4 million new businesses were created in the US in 2020. That's about a 24.3% increase from 2019. Many people may have gotten more creative as they were let off with more time on their hands than ever before. Maybe, after being laid off or losing their job, they were finally able to pursue their true passions. However, being an entrepreneur isn't always easy, it takes major skills and commitment. Follow along for some facts about the "startup surge" and what it takes to run a successful business.

New Businesses Are Usually Digital


One of the main reasons you don't need a ton of money to start with, is that businesses can operate digitally. If you are going to be selling things online as strictly an ecommerce business it's even easier. All you need is a website name, fast WP hosting, and a website design. In turn, this limits the amount of funds you need to hire, construct a physical merchant site, and even display your product. Not only that, but with AR ( augmented reality) so up and coming, it is easier than ever before to give a customer an accurate glimpse of what you're selling. By digitally projecting a 3D image or video, the customer can see exactly what the product looks like all the way around. Not only that, but you don't have to worry about spending gas on a commute to go to the office. You can do all your work from the comfort of your own home!

Creativity Is Essential 


Most entrepreneurs can agree that creativity is an essential skill for running a successful business. It's no wonder so many businesses became successful in 2020. With therapists running towards zoom to host their clients, thriving businessmen starting podcasts, and boutiques finding ways to run digitally with the help of instagram. Overall, it is important to think outside the box with the way you want your business to operate. With even more small businesses and companies to compete with, if you can find a way to create a unique edge amongst the crowd, you'll be bound for success!

Being Your Own Boss Has So Many Rewards


Being your own boss means you light up when you get sales and reach the goals you set for your business. Unlike working a corporate position, you may not reap all the rewards when the company has a killer month. Typically, the owner, CEO, or employees at the top of the ladder will get the most benefits. It can feel like a vicious cycle of working so hard for little to no benefit. However, entrepreneurs can report that there is no other feeling like killing it in your own business and igniting that passion you have. Not only that, but you're in charge of your hours, employees, and how your business decisions are made. This may sound stressful to some, but it is actually so rewarding.

Social Media Become More Important For Sales

With worldwide restrictions due to COVID-19, businesses were unable to operate in person, igniting a trend towards online buying and selling. More people had no choice other than to shop and communicate online. With more customers now used to using digital platforms and social media to browse, they will most likely continue to buy that way. Tik Tok, a popular social media platform, took off in 2020 and now hosts a wide variety of influencers and small businesses who use the app for digital advertising. Social media will continue to merge to support businesses and entrepreneurs who are trying to sell.

Dive Deep Into The Data


Most business owners will agree that you will fail once or twice in your new path. The data and numbers are more crucial than ever to see where there is room for improvement or if you're doing well. Taking the time to look into the data and remain humble on the idea that you may have to restart or try a different tactic.