New companies face tough task overcoming pandemic, recession
Companies, agencies, institutions, etc
AP
Campbell
the Kauffman Foundation
the Labor Department
Bipartisan Policy Center
Sugar Whisky
Agave & Rye
Small Business Administration
the Paycheck Protection Program
Northwestern University’s
Kellogg School of Management.“They
People
Julie Campbell
Dane Stangler
Yavonne Sarber
Wade
Papi Jocho’s
Warby Parker
Amy
Cody Morgan
Amy Morgan
Sara Moreira
Yeliz Karafazli
Bonte
Deniz Karafazli
Groups
Americans
Morgans
Physical locations
Airbnb
Places
Pit Stop Pools
Locations
NEW YORK
U.S.
Covington
Kentucky
Ohio
Papi Jocho’s
Cypress
Texas
Houston
Manhattan
New York City
Events
the Great Recession
Summary
U.S. gross domestic product plunged by nearly a third from April through July, and there are still more than 13 million people unemployed.Slightly over one million companies that have employees were launched in 2018 while 925,000 closed, according to the latest available data from the Labor Department.Despite the ongoing pandemic, interest in starting a business has picked up as parts of the U.S economy reopened. The applications don’t necessarily mean businesses were launched, but the numbers do show that despite the virus’s grip on the economy, people were considering starting companies.Unemployed people needing a source of income likely accounted for some of those applications, says Dane Stangler, a researcher at the think tank Bipartisan Policy Center. Business has been so good there that revenue at all her restaurants overall is up 25% from its pre-pandemic level even as indoor dining capacity at the Agave & Rye branches is limited to half.Sarber’s husband Wade wanted her to proceed more cautiously before plunging into starting Papi Jocho’s.
As said here by JOYCE M. ROSENBERG