Startup Rush Predicted in Study From New Integrated Communications Agency, Sēd
African-Americans and Gen Z lead the way in the desire to start their own business despite an uncertain future
NEW YORK, Oct. 15, 2020 /PRNewswire/ -- New research by freshly launched integrated communications agency, Sēd, indicates a startup rush is headed for realization in the near future. The "Next Startup Wave" study validates that the coming year will bear witness to a groundswell of startups. 54% percent of those who were thinking of starting their own business say that this inclination has only strengthened as a result of the COVID-19 pandemic, heightened in particular among Gen Z (63%) and African Americans (70%). These results indicate an undaunted entrepreneurial Gen Z and a potential shift towards more diversity in the startup space than ever before. 49% of African-Americans, in particular, have thought about starting their own business for the first time in the last six months, as compared to the total population at 37%. These startups in the making are also taking immediate action, with 43% planning to start their businesses within the year and 18% having started already, proving that the pandemic is an accelerant, not a fire blanket, to startup ambitions. Sēd Founder and Chief Strategist, Loretta Markevics, started the firm with the sole purpose of supporting this energy and using communications to get future startup brands on the lips of culture and trigger hypergrowth fast.
"The COVID-19 quarantine has certainly brought its challenges. It's also been an unlikely spark igniting creativity and fostering people's entrepreneurial spirit, despite the challenges of the time. I founded Sēd in part due to a long-term professional goal, but largely due to my own inspiration and desire to step out of this time doing something markedly different," says Markevics. "There is a real opportunity to push creative boundaries with fearless thinkers and capitalize on the inspiration brewing as a result of being somewhat removed from the normal way of life and the recalibration of what normal even means."
Prior to founding Sēd, Markevics' two-decade career spanned leading global advertising and integrated communications agencies based in New York City, including McCann, Grey, Porter Novelli, and most recently she was Chief Strategy and Creative Officer at DeVries Global. With curated expertise across the marketing mix, she has conceived and led award-winning integrated creative campaigns and communications strategies for some of the world's most iconic brands. Her passion, however, lies in helping smaller brands poised to challenge the larger competition.
"Established brands need to watch out," says Markevics. "The idea of disruption is so pre-pandemic. We have learned now that everything has the potential to be dismantled. I believe today's startups - and those coming out of this time - can cause more than disruption, but eruption: a complete and total reordering of leadership in the category that will disproportionately favor newness, innovation, and empathy. This moment has blown up long-standing codes and conventions around behavior, leadership, and mindset. There is no longer a marketing rule book because it is built on the tenants of the past. Legacy leaders can't easily blow-up a category they helped to create, so they tend to take fewer risks and many times execute what has worked historically. Startups can exploit this, especially now. With a combination of an ethos built on boldness and communications that scream with differentiation, our ultimate goal is for our clients to trigger category eruption that will launch them into leadership positions."
According to this study, although the most significant drivers for starting a business are "making money" and "being my own boss," 23% of men stated they "enjoyed the flexibility since COVID-19 and realized I could have more of it working for myself." 23% of 21-34-year-olds agreed that "COVID-19 and quarantine have shown me that the future is unpredictable and I can change what my future looks like now."
"I fully relate to the unpredictability of the future and being able to change it. That's why I decided to rent out my house for a year. So, far, in the past four months, I have been on the road, traveling cross-country and living in some of the country's most notable 'startup cities' including Austin, Miami, Boulder, and San Diego to immerse in the energy of these creative hotbeds, step into the shoes of my clients and to acclimate to life as a startup myself."
Learnings gained from this trip, combined with the collective experience shared by Markevics' team and movement of startup investment capital, has helped to zero in Sēd's focus on three key verticals: wellness, technology, and cannabis. In fact, Sēd's first clients include three big fourth-quarter launches in those verticals. The company is actively involved in multiple RFPs by other startup companies.
Learn more about Sēd Communication's at www.sedcommunications.com.
High-resolution photos and interview available
SOURCE Sed Communications
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