Profile of small businesses founded during the pandemic

According SBE Council survey of founders of businesses created during the pandemic, 74% dedicated all their time to the new venture. Some even took up a second job to get the business off the ground, while 16% treated their new venture as a side gig. More than three quarters used their savings to start the business and only a minority resorted to bank loans or angel investors; 1% of the new ventures was funded by crowd funding. The shift to a digital economy, due to pandemic conditions, seems to have helped about 40% in launching their business. #IdeaoftheDay