Americans Starting New Businesses at Record Pace

New figures from a study by LendingTree indicate the number of new business applications across America in 2020 has surpassed the figure from the previous year’s total by mid-October.

New business applications reached over 3.4 million new applications in 2020 up from last year’s 3.4 million figure. Even with the nation experiencing the worst economy since the Great Depression, new business applications have surpassed 2019’s figures. Overall business applications growth was triggered following the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27. 

Businesses Starting at Record Pace in 2020

However, the data

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