One thing that has remained unchanged about the U.S. throughout generations is the American Dream: people from around the world have flocked to the country for decades on end, seeking greener pastures for themselves and their families.
What has changed, though, is the number of great minds that continue to make this great nation what it is. Each year, an increasing number of entrepreneurs lay down the foundations for building businesses that seek to address practically every consumer need or want imaginable.
With over 32 million businesses operating in the nation, it can feel overwhelming for new entrepreneurs to find the room to make a name for themselves. The current COVID-19 crisis has made it even more difficult, even for the most seasoned of business owners, and especially for those looking to make their first waves. Many aspiring entrepreneurs may wonder: how can you begin to get moving when getting back up on your feet can still be challenging?
The international impact of COVID-19 on businesses
In the first three months of the pandemic alone, 400,000 small businesses in the U.S. had faced permanent closure. This is in comparison to an average of 600,000 in the span of a single year! Billions of dollars in grants, stimulus checks, and unemployment benefits were also distributed in the first year of the virus’ spread.
Across the world, thousands more faced not only closure but significant losses both financially and personally. Some faced a cycle of repetitive closure and reopening, a shift in the implementation of health and sanitation protocols, and a pressing need to innovate their products and services. Undoubtedly, 2020 was a hard time to be an entrepreneur, employee, or investor.
How the future’s looking for entrepreneurs
Despite the difficult year that businesses faced, not all hope is lost: things are looking better than ever for entrepreneurs as the economy begins to recover from the losses that it took the year before. As both old and new establishments open, people are given the chance to seek steadier employment, which also means that consumers can begin spending more beyond their basic necessities.
Among the best news for business owners would probably be that investment spending has reached record-breaking highs in 2021: in the second quarter of the year alone, venture capitalists have invested $156 billion into startups, as compared to the $60 billion spent in the previous year’s same timeframe.
A total of $288 billion for the first half of 2021 exceeds the entire second half of 2020 by over a hundred billion! Not only are entrepreneurs gearing to get their plans going, but investors are also looking to place their trust in products and services that have the potential to change the way that we live and what we know about the world.
Find the right people to stand in your corner
True enough, starting a business from scratch can feel overwhelming. However, this doesn’t always have to be the case at all: when you have people who support you, as well as the means and the passion to forge ahead on your entrepreneurial journey, then the rest will unfold in your hands. Finding the right business partners and investors can take your venture towards success – and fast!
If you want to connect with the right people who believe in what you do, then look no further: our friends at The Farm Soho will be hosting digital pitch nights to create bridges between brilliant entrepreneurs and capable investors!
Each startup will be given ten minutes to present to investors around the world through an online platform, giving those who qualify the ability to build relationships and form potential partnerships with international professionals.
Think you’ve got what it takes? Don’t miss your shot! Sign up for the digital pitch night right now to connect with the best investors for small business enterprises!