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New business formation soared during the COVID-19 pandemic. According to US Census Bureau data, new business applications in California increased by 20% over 2019 in 2020 to 437,000. The trend is continuing this year. That’s a lot of small group prospects that need health benefits in order to recruit employees.
The US Census Bureau has a helpful interactive chart where you can drill down to get new business formation data in your local county.
The boom in new business creation is in the news. For more information, this recent US Chamber of Commerce article provides more in-depth coverage.
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