Entrepreneurship spike fueled by COVID-19 pandemic, experts say

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“You know, when you’re a part of that, you change someone’s life. It’s significant, â€Leach said.

She worked as a physiotherapist in a clinic for ten years, but said the pandemic had sparked change.

“It became stressful for our family trying to figure out daycare pickup and the centers closed a bit early to clean up,†Leach said.

She needed a flexible schedule, so she quit her job in January this year and started her own business called “Empower You Physical Therapy and Wellnessâ€.

“I’m sticking with that,†Leach said.

Experts have said that over the past four decades entrepreneurship has not been popular, but the pandemic has changed the narrative.

“It has grown dramatically and last year it grew almost 25% nationwide in terms of the number of businesses created,†said John Stavig, U of M general manager Gary S. Holmes Center for Entrepreneurship.

When the pandemic hit the United States, job posting ceased, the economy slowed, and employees worked from home.

“Some groups of workers clearly want the flexibility that comes with working remotely or working for themselves,†Stavig said.

Stavig said the new work climate gives people time and resources to bring their own ideas to life.

“Now it looks like everyone is quitting or changing jobs,†he said.

He explained that the pandemic has fueled a spike in entrepreneurship and is reshaping the work industry, changing where and how people work.

“I think the biggest change in the long term is probably that people have figured out how to work remotely and how to work a lot more independently,†he said.

Entrepreneurship experts said as expectations in the workplace change, employers may need to change their strategies to attract more workers.

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