More people are starting businesses now than ever before — and the reason could be that the opportunity cost, or what they have to give up in exchange for entrepreneurship, is lower than ever.
Data that the U.S. Census Bureau released earlier this month shows that the total number of applications to start businesses hit a record 5.5 million last year.
That’s half a million more applications than what was filed in 2022.
Related: Here’s What Millions of Small Businesses Have in Common, According to a New Survey
Census Bureau data from the first four months of this year show that the startup boom is still going strong, too — from January through
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