Tennessee sees increase in new businesses during and after pandemic

NASHVILLE, Tenn (WTVF) – During the pandemic we saw many small businesses survive and others that just couldn’t make it.
It was also in 2020 when we saw an increase in new businesses and the number in the state continues to rise.

The last Yelp Economic Average showed a decreasing number of global shutdowns, with a total of 132,580 businesses across the country closed due to the pandemic and more than 97,900 permanently closed.

Main Street Alliance and Color of Change, conducted a poll that asked 600 entrepreneurs from all walks of life how long they thought they could stay open in today’s coronavirus-hit economy without government help.

Only 40% of black respondents said they could last longer than six months, compared to 46% of Asian respondents, 48% of Latinxes, and 55% of white respondents. This one was released in October 2020.

However, new studies show that despite financial difficulties, there has been a wave of new business in states like Tennessee and Kentucky during the pandemic.

Maliyah Bass and Bariangela Segovia live the dream when they open Rolled Ice Cream 4 Ever.

“We traveled to New York in our freshman year of college, and we tried rolled ice cream for the first time, we thought it was a cool concept, so we decided to put it on a food stall. truck, ”Bass said.

It was such a success: the young women were ready to grow.

“We were trying to open a store before the pandemic, it just so happens that the pandemic hit in the middle of our plans,” Bass said.

The store opened in October 2020.

“Even finding a location and getting funding for the location, the banks would say, you know, why these young girls are trying to open a store in the middle of a pandemic. So we certainly had a certain turnaround because of it. of that. “

In May 2021, the National Bureau of Economic Research discovered that more Tennesséens were applying for new business licenses during the pandemic.

“We just think outside the box and come back to the whole thing, you know, we just pray and, you know, pray that it all works out,” Bass said.

Rolled 4 Ever Ice Cream is one of the survivors.

“Every time you jump and take a big jump you always have a question in your back of your mind, and I think we definitely made the right decision,” Bass said, “since we had huge support, and I feel like our brand is growing. “

The study also indicates that black-owned businesses in above-average income neighborhoods grew faster than other businesses.

About Geraldine Higgins

Check Also

A mural was unveiled in Bath to celebrate African women in healthcare.

It is in the atrium of the Royal United Hospital It is titled “A Hidden …

Leave a Reply

Your email address will not be published. Required fields are marked *