For many thousands of people across the globe, the COVID-19 pandemic was a catalyst for starting their own business. Despite the huge risks associated with launching a new venture during a global crisis, the number of newly created businesses has increased significantly in recent months. Data from the United States Census Bureau show that in January 2021 new business creation applications increased 73% year over year. Women have been key contributors to the entrepreneurship boom. Many who lost their jobs when the virus took hold in 2020 started a business out of necessity. Others needed greater flexibility as they juggled careers with childcare and homeschooling responsibilities. A recent survey by Gusto shows that 49% of entrepreneurs in 2020 were women, up from just 27% in prior years.
In this episode of the ISG Digital Dish, host Jeanne Cuff interviews Pam Kendall, founder of Qui Collection, a U.S.-based start-up fashion brand. Born from Kendall’s lifelong passion for clothing and vintage fabric, the venture was launched just before the world was disrupted by the virus. ISG co-hosts Lois Coatney and Julie Fernandez join the discussion on how the pandemic has radically shifted the entrepreneurial environment. Today, it might be easier than ever to create a business, but our hosts firmly believe that a desire to make money is not enough for success. Entrepreneurs first and foremost need to be driven by a deep passion for their project.