Alabama NewsCenter — U.S. Business Starts Enjoyed Best Year Ever Amid COVID-19

Alabama News Center | January 15, 2021 @ 6:00 pm

The complete article can be found at AlabamaNewsCenter.com.

By Michael Sasso and Steve Matthews
Bloomberg

The surge of U.S. business formations in the back half of 2020 has been one of the pandemic’s many surprises.

After cratering by 30% in the weeks following the March lockdowns, paperwork filed by prospective businesses started growing in June and finished the year ahead of 2019’s tally by almost a quarter, according to a U.S. Census Bureau analysis of federal tax documents.

It was the highest annual total on record, according to John Haltiwanger, an economist at the University of Maryland.

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Alabama News Center tels the stories of the people and businesses powering the states of Alabama, striving to make Alabama a wonderful place to live and work.