Business Formation: A Tale of Two Recessions

The trajectory of new business applications and transitions to employer businesses differs markedly during the Great Recession COVID-19 recession. Both start-ups decreased slowly but persistently in post-Lehman crisis period Recession. In contrast, recession, initially declined have since sharply rebounded, resulting a surge 2020. Projected also rise, this is dampened by change composition 2020 toward that are more likely be nonemployers.