A majority of them are more spontaneous and less well conceived by people with much less experience with all aspects of running your own business.
I read that there have been several 100.000 of new business registered.
All of those will have to try and climb on top of each other to be heard.
Let us say that 1000 new mobile dog grooming business have been started in Denver. They all need a van and equipment. There are already 100 mobile dog grooming businesses, some do very well with an established clientele, a known name, and organic growth from happy businesses. Others do not.
How will all the new dog groomers be heard?
Who will be inventive enough or rich enough to hire someone, to create a solid and successful marketing campaign?
Traditionally on average 20% of new business fail within the first year. (Depending on type of business, some fail more often than others).
I predict we will see solid increase how many businesses fail. A lot of people will lose their savings. Unless something drastic changes a lot more will be without health insurance.
Within 6 months to 2 years there will be a horde of people who wish to return to being an employee of an established business, while being worse off financially.
I hope I am wrong.
(All numbers used about dog groomers are made up. Pure fiction)