Multitudes of entrepreneurs have capitalized on transformations brought about by the COVID-19 pandemic to launch businesses in the past four years—and not just in Silicon Valley, The Wall Street Journal reports. Roughly 1.6 million new businesses were established in 2023 through November, a 38% increase from the year before the pandemic and the highest level seen since records began in 2005. While what exactly is driving this surge in entrepreneurship is uncertain, a few factors have likely played a significant role. For example, the increased flexibility of schedules during the early stages of the pandemic, the upheaval of entire industries, the disruptions in child care, and the pursuit of more affordable housing and improved work-life balance are probable drivers. Also notable is the fact that much of this entrepreneurial activity is taking place outside of regions traditionally associated with startups, like Silicon Valley. In Georgia, for instance, applications submitted by potential future employers in 2023 were up 53.4% from the year before the pandemic, outpacing the 38% nationwide increase.
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