---
title: The small business boom ain’t over yet
description: Small business applications are down from the pandemic peak, but still way above pre-pandemic levels.
---

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# [The small business boom ain’t over yet](https://hs-sbup.thehustle.co/news/10072022-small-business-boom)

 Written by [Rob Litterst](https://hs-sbup.thehustle.co/news/author/rob-litterst) | Oct 7, 2022 9:55:11 AM

During the pandemic, a combination of stimulus checks and free time led many to tap into their inner entrepreneur. Case in point:

- Google searches for “how to start a small business” [were up](https://www.axios.com/2022/02/15/small-business-boom-covid-recession-pandemic) 124% in the first six months of the pandemic, per *Axios*.
- There were 5.4m new business applications in 2021, up 53% from 2019.

While application volume has tapered off from the pandemic peak, [data](https://fred.stlouisfed.org/graph/?g=TRxu#) from FRED reveals we’re still in the midst of a boom.

#### **But it’s not exactly easy out there**

A survey from Kabbage [found](https://www.cnbc.com/2022/09/23/small-businesses-say-inflation-is-cutting-into-profits-new-survey.html) 75% of small business owners said inflation had cut into profits.

- Further, rising rates are causing smaller firms to get [squeezed](https://www.wsj.com/articles/small-businesses-getting-squeezed-out-in-push-for-warehouse-space-11664962202) out of storage space.

On the bright side, Bank of America [found](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/10/bank-of-america-finds-66--of-small-business-owners-expect-revenu.html) 77% of entrepreneurs believe their business is equipped to survive a recession, meaning many likely expect to keep their startup dreams alive for the long haul.

[View full post](https://hs-sbup.thehustle.co/news/10072022-small-business-boom)

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