Is This The Real Competition In The Labor Shortage?

For many employers, filling vacant job openings during the current labor shortage seems mostly like a competition with other companies and businesses that are hiring—or, in some cases, the option of receiving unemployment benefits.

But there’s a third rival for employees’ attention that gets a lot less consideration: Starting a business. 

In July 2021, applications for business formations were up 98% year over year, according to the U.S. Census Bureau.  

And that figure doesn’t include all of the people who start a business more informally, perhaps by taking on a few freelance projects. The long stretch of working from home that many workers experienced gave them a chance to

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