{"id":4140,"date":"2022-06-23T11:24:58","date_gmt":"2022-06-23T10:24:58","guid":{"rendered":"https:\/\/blogs.kent.ac.uk\/economics\/?p=4140"},"modified":"2022-06-23T11:24:58","modified_gmt":"2022-06-23T10:24:58","slug":"booming-entrepreneurship-during-the-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/blogs.kent.ac.uk\/economics\/2022\/06\/23\/booming-entrepreneurship-during-the-covid-19-pandemic\/","title":{"rendered":"Booming entrepreneurship during the Covid-19 pandemic"},"content":{"rendered":"<p><a href=\"https:\/\/www.kent.ac.uk\/economics\/people\/2171\/savagar-anthony\">Dr Anthony Savagar<\/a> has collaborated with <a href=\"https:\/\/www.bankofengland.co.uk\/research\/researchers\/saleem-bahaj\">Saleem Bahaj<\/a> from the Bank of England&#8217;s Research Hub and <a href=\"https:\/\/www.bankofengland.co.uk\/research\/researchers\/sophie-piton\">Sophie Piton<\/a> who works in the Bank of England&#8217;s Monetary Analysis, Structural Economics Division on a Bank Underground piece on firms dynamics during the Covid 19 pandemic.<\/p>\n<p>&#8216;Recessions typically discourage entrepreneurs from starting new businesses. During the Great Recession, a <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0014292115000471\">\u2018generation\u2019 of start-ups went missing<\/a> which contributed to a slow recovery in employment. \u00a0Two years after the pandemic started, evidence for the UK suggests a very different story: the pandemic inspired many entrepreneurs to start new businesses and this supported the recovery in employment.&#8217;<\/p>\n<p><a href=\"https:\/\/www.ukfirmcreation.com\/\">Research<\/a> investigating who started firms during the pandemic shows that there was a start-up boom in online retail and first-time entrepreneurs; that firms adjusted quickly to the collapse in retail footfall and firms created during the pandemic were more likely to hire workers but also to dissolve later.<\/p>\n<p>It concludes &#8216;These results provide initial evidence that booming firm creation has\u00a0<a href=\"https:\/\/www.hiringlab.org\/uk\/blog\/2022\/03\/22\/uk-job-postings-through-18-march\/\">helped the rapid recovery in the UK economy<\/a> in the short run, but in the long run the implications are less clear. A rising number of dissolutions and entry concentrated among solo entrepreneurs who tend to dissolve more could negate the impact of the Covid-19 surge in firm creation.&#8217;<\/p>\n<p><strong><a href=\"https:\/\/bankunderground.co.uk\/2022\/06\/22\/booming-entrepreneurship-during-the-covid-19-pandemic\/\">Read the full piece here<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dr Anthony Savagar has collaborated with Saleem Bahaj from the Bank of England&#8217;s Research Hub and Sophie Piton who works in the Bank of England&#8217;s &hellip; <a href=\"https:\/\/blogs.kent.ac.uk\/economics\/2022\/06\/23\/booming-entrepreneurship-during-the-covid-19-pandemic\/\">Read&nbsp;more<\/a><\/p>\n","protected":false},"author":66395,"featured_media":4141,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[94129],"tags":[],"_links":{"self":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts\/4140"}],"collection":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/users\/66395"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/comments?post=4140"}],"version-history":[{"count":3,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts\/4140\/revisions"}],"predecessor-version":[{"id":4144,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts\/4140\/revisions\/4144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/media\/4141"}],"wp:attachment":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/media?parent=4140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/categories?post=4140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/tags?post=4140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}