New Report: Surge in Business Openings Continue in 2023, On Track to Beat Last Year’s All-Time High
FOR IMMEDIATE RELEASE: Thursday, August 31, 2023\CONTACT: Brad Luna, LUNA+EISENLA brad@lunaeisenla.com | 202-812-8140 (mobile)“The number of small businesses opening over the last two years broke records, but Yelp’s new report signals our community’s growth is far from being over,” said Keith Hall, National Association for the Self-Employed (NASE) President and CEO WASHINGTON, D.C. – Today, Keith Hall , president and CEO National Association for the Self-Employed (NASE), the nation's leading advocate and resource for the self-employed and micro-businesses, reacted to the Yelp Economic Average report released this week showing, “2023 US business openings on track to beat last year’s all-time high.” “The number of small businesses opening over the last two years broke records, but Yelp’s new report signals our community’s growth is far from being over,” said Keith Hall , president and CEO National Association for the Self-Employed (NASE), the nation's leading advocate and resource for the self-employed and micro-businesses. “The surging growth in the small business community, including new operations and existing businesses who are expanding and growing, signals the determination of our country’s entrepreneurial spirit that is rapidly reshaping the American workforce.” The new report by Yelp Economic Average found that:National business openings on Yelp from January through July 2023 have surpassed openings from the same time period last year, a year which hit an all-time high for new businesses . This strong national growth is reflected across all categories on Yelp and for the first time, every U.S. state, including DC, surpassed new business openings compared to pre-pandemic levels (2019). Entrepreneurs are already breaking records this year. In fact, each month in 2023 has seen growth of at least 15% in new businesses compared to its respective month over the past four years, with every month setting a new all-time high since 2019. The first seven months of 2023 have seen a 25% increase in new businesses compared to the same period in 2022, and a 46% increase compared to the same period in 2019. Hall continued, “Last year’s all-time high in new business openings is on course to be broken again this year, underscoring the importance of policymakers in Washington to continue adopting ‘pro-small employer, anti-red tape’ policies in support of this exploding business demographic. Small businesses have unique attributes and challenges that call for bipartisanship in support of policies that bolster these new, and existing, small businesses – an increasingly important lifeblood for our nation’s economy. NASE applauds and welcomes these new entrepreneurs into our ranks, and we are committed to advocating as their voice in Washington to create and foster a favorable policy and economic environment for small businesses to expand, save and grow.” Over the past 40 years, the National Association for the Self-Employed supports the small business community through advocating for strong self-employment economic policies, as well as financial support to its small business members. NASE has awarded over $1,000,000 since the inception of the association’s Growth Grant program. NASE continues to offer an expanded quarterly Growth Grant program to its small business members on a rolling basis. The association also hosts a variety of free informational services from the NASE Minute on small business advice and guidance to “Ask the Experts” where members have 24-hour outreach to experts in various fields from accounting to legal advice.To speak with Keith Hall, NASE President and CEO, regarding the record-breaking growth in the small business and self-employed demographic, please contact Brad Luna at brad@lunaeisenla.com The National Association for the Self-Employed (NASE) is the nation's leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE NextBizThing helps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org