Starting a business during the post-pandemic period felt like diving into unknown waters. But I quickly realized that I wasn’t alone—entrepreneurship in the U.S. has been surging since 2020, and the environment is ripe with opportunity. Today, I want to share my journey, reflect on the factors behind this rise, and encourage those who are thinking about launching their own business to seize the moment.
A Record Surge in Entrepreneurship
Since 2020, the U.S. has experienced a massive boom in new business applications. In 2024 alone, 430,000 new businesses are being registered each month—50% more than in 2019. Notably, a significant number of these applications are for businesses likely to hire employees, reflecting a growing confidence in long-term sustainability and job creation [“] [“]. The post-pandemic recovery, fueled by new consumer demands and shifts in the labor market, has created the perfect environment for entrepreneurs to thrive.
For me, launching Cyber Hoplite during this period felt daunting. However, I quickly realized that I was part of a larger movement of individuals leveraging the evolving business landscape. The surge wasn’t just a temporary response to the pandemic—it was part of a broader shift in how people approach work, opportunity, and innovation.
The Power of Diversity and Opportunity
One of the most inspiring aspects of this surge is how diverse entrepreneurship has become. In 2024, 43% of self-employed Americans are women, a record high, and entrepreneurship among Black and Hispanic communities has also seen unprecedented growth (GEM Global Entrepreneurship Monitor). This diversity has enriched the entrepreneurial ecosystem, driving innovation across industries.
For example, I’ve noticed in my own network how different perspectives have led to innovative solutions and creative business models. As a young entrepreneur, I’ve felt empowered by seeing people from all walks of life embrace entrepreneurship, proving that the barriers to entry are being broken down.
What’s Fueling the Surge?
There are several key factors behind this entrepreneurship boom:
• Economic Recovery: As the economy recovers post-pandemic, there has been an overwhelming sense of optimism among small business owners. More than 70% of small business leaders expect their revenues to grow over the next year, the highest rate since before COVID [“] [“].
• Technological Advances: From e-commerce to remote work, technology has lowered the barriers to starting a business, allowing people to scale faster and reach customers globally.
• Regional Growth: States like Colorado and Florida have seen significant increases in business applications, reflecting regional economic growth and innovation .
For Cyber Hoplite, technology played a huge role in getting off the ground. Being able to operate digitally allowed me to bypass many traditional barriers, and it was empowering to see others in my age group do the same.
Encouraging Fellow Entrepreneurs
To those considering starting their own business, now is the time. While there are challenges ahead, the landscape is rich with opportunity. My journey with Cyber Hoplite has taught me that perseverance, creativity, and a willingness to embrace change are key to success.
If you’re thinking about starting your own venture, here are a few tips:
1. Leverage Technology: Whether it’s e-commerce, marketing, or remote work tools, technology is your best friend. Learn to use it to scale faster.
2. Tap into Community: Surround yourself with other entrepreneurs. You’ll find support, ideas, and even potential partnerships.
3. Stay Resilient: Like any journey, entrepreneurship has its ups and downs. Resilience is what will carry you through.
For more stories, strategies, and tips, make sure to explore other articles on KylenSmall.com. Together, we can build a community of forward-thinking entrepreneurs ready to take on the challenges and opportunities of 2024 and beyond.