America is currently experiencing what some are calling a "startup boom." That's right — even with a raging pandemic and an ugly recession, America is seeing a boom in the creation of new businesses. We are seeing a continuing flow of financings at all stages as well.
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In what is pretty much the Super Bowl for economists, the US Census is releasing its Q3 2020 business formation data tomorrow. Based on the most recent data, people have been getting their startup on. Through the 40th week of 2020 (ending Oct. 3), business applications were up a record 40% YoY.
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