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More prospective new businesses were formed in 2020 than ever before

3 days ago   |   By Business Insider

Baboonie Tatum, owner of the Rise and Grind Cafe, poses inside her coffee shop in Milwaukee, Wisconsin.
Kamil Krzaczynski/AFP via Getty
Bloomberg reports that the number of prospective businesses filing formation paperwork was almost a quarter higher in 2020 than 2019, citing a Census Bureau analysis of federal tax documents.
While paperwork initially dropped after lockdowns began in March, it began to pick up in June.
University of Maryland economist John Haltiwanger told Bloomberg that 2020 had the "highest annual total on record."
Some may be creating businesses after losing a job: Over...
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