The COVID-19 pandemic may be lasting longer than expected, but it hasn’t dampened Americans’ appetites for business formation, according to accounting software developer Intuit, which projects that 17 million companies will be created in 2022.
In fact, according to Intuit’s recent
“When the pandemic hit, we saw an unprecedented number of new businesses formed as millions of people spotted new opportunities brought on by the ‘new normal’ or reevaluated their priorities,” said Alex Chriss, executive vice president and general manager of Intuit’s small business and self-employed group, in a statement. “Now, almost two years later, we’re continuing to see this trend, as 2022 promises to deliver even more small business growth and prosperity.”
Many of those new businesses will be hiring, too – based on U.S. Census Bureau data, Intuit projects that 2022 will see a record 5.6 million Employer Identification Numbers issued (up from a record 5.3 million projected for 2021).
In a separate report based on a survey of over 2,000 small-business owners across the U.S., Intuit found a strong focus on online operations, with the overwhelming majority of respondents (88%) saying that online sales will be an important source of revenue in 2022.
Amid a host of data about small-business priorities and concerns for 2022, the
The small businesses reported that the primary benefit they get from their accountants is help making better decisions, followed by their accountant saving them money, and improving their long-term survival.
Both reports, as well as other research and information, are available at Intuit’s
