According to Michael Plummer Jr., the President, CEO, and CTO of Our Town America, a premier New Mover Marketing franchise, now is an ideal time to pursue entrepreneurship.
The end of the pandemic is starting to feel real and, despite the setbacks, COVID-19 resulted in a few positive changes for workers. Working from home, or being forced to create their own businesses out of necessity, allowed many to work on their own time, thereby eliminating commutes. And while many Americans initially lost their jobs, many found this to be the push they needed to go it alone and become entrepreneurs. Bolstering this idea is the fact that small business applications increased 24% in 2020 over 2019 levels.
According to Plummer Jr., there are 3 great reasons to become an entrepreneur right now:
1. New Technology Fuels Entrepreneurship
Thanks to technology’s rapid growth, and the necessity for some to work from home, there is more technology than ever before available to help people maximize work efficiency from the comfort of their home. Entire businesses can be run on phones through apps, and this is especially beneficial for small business.
2. Work-Life Balance
The pandemic improved work-life balance for those who normally had to commute to and from their jobs, allowing workers a glimpse of what it would be like to be closer to their families and have more free time. Entrepreneurship allows workers to maintain this flexible schedule while potentially increasing their earning potential.
3. More Funding Opportunities
Despite job losses during the pandemic, decreased spending on things such as vacations and entertainment combined with the receipt of stimulus packages have resulted in higher savings overall. This means many individuals and organizations have found themselves more cash positive than before, causing more funds to be available to start-up or invest in small businesses.