JustBusiness Launches Today, Releasing the First In-Depth Look at America's 'Pandemic Founders' Starting Businesses in 2020

NEW YORK, Sept. 15, 2020 /PRNewswire/ -- JustBusiness, a powerful new source of information, advice, and services for new business owners, is launching today with original research on America's newest entrepreneurs -- the "Pandemic Founders" who are striving to start a business despite the challenges of the COVID-19 pandemic.

JustBusiness' inaugural report, titled How 2020 Has Influenced A New Class of 'Pandemic Founders', provides the first deep-dive analysis of who's starting a business in 2020, and how they've been impacted by COVID-19. Key insights include:

• The pandemic was a catalyst for many entrepreneurs. One in five, or 20% of respondents said that they didn't have plans to start a business before the pandemic—but they do now.
• Many of these folks are tackling their passion after losing a job: More than a quarter, or 26%, were laid off, and are now starting up on their own.
• More than half are first-timers. About 51% of survey respondents said that this would be their first time starting a business.
• Fully virtual and hybrid models are most popular. Approximately 29% of businesses launching will be entirely virtual, while an additional 32% will be both physical and online.

The full report examines additional factors, such as the most popular industries, most common types of financing and business owners' hiring plans.

"This is a fascinating group of founders," said Eric Goldschein, Partnerships Editor at JustBusiness, and lead researcher on the report. "We were initially surprised that small business formation has increased so significantly this year. But we've learned that these entrepreneurs are seizing the silver lining, perhaps pursuing their passion after being laid off, or uncovering a new opportunity due to the pandemic. I'm proud to report that many in this new class of business owners are meeting the hardships of 2020 with quintessential American ingenuity and innovation."

JustBusiness was created by the editorial team at Fundera and will operate independent of its parent company. It is a passion project of a group of seasoned small business journalists who saw just how little was made available to new small businesses during the coronavirus pandemic. JustBusiness's purpose is to give business owners direct access to the comprehensive information they need to make confident decisions for their new business.

"The pandemic completely changed our relationship with our Fundera Ledger readers," said Sally Lauckner, Editor-in-Chief at JustBusiness. "We started talking to them on the phone for hours a day. No one could keep up with what was happening with PPP and what was available to their business. And while there were many efforts to help established small businesses, people who were starting or had recently started their business were pretty much left behind. The overwhelming piece of feedback we got from readers pre-pandemic was that they wished they would have had a one-stop shop for everything they needed when they started their business. That, plus what we saw firsthand over the past six months, made us realize now is the time to prioritize this resource and start helping as many folks as we can."

About JustBusiness
JustBusiness strives to provide the most accurate and trusted small business advice on the internet. We connect business owners to thoroughly researched information, product reviews, and expert recommendations. JustBusiness launched in September 2020 after parent company, Fundera, saw just how little was made available to new small businesses during the novel coronavirus pandemic. JustBusiness was born to create a home for truly unbiased advice, operating independent to Fundera and the Fundera Ledger. For more information, please visit www.justbusiness.com.

CONTACT: Dave Heinzinger, [email protected]

SOURCE JustBusiness

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