Inflation, supply chain issues and civil conflict didn’t stop new US businesses from forming in 2022.

Last year had the second highest number of applications to form new US businesses likely to hire employees in recorded history: With almost 1.7 million such applications, 2022 trailed only 2021, which saw 1.8 million.

That’s a 28% increase over 2019 (considered the “pre-pandemic baseline”) according to an Economic Innovation Group (EIG) analysis of the US Census Bureau’s Business Formation Statistics for 2022.

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