How Has The Pandemic Shaped Entrepreneurship?

how has pandemic shaped entrepreneurship

So much has changed since the pandemic, and not just in our personal lives. Our working lives have seen some major changes too. In a recent IONOS study exploring entrepreneurship in the USA, it was found that over 44% of US citizens dream of becoming self-employed. It seems that job security from employment was not as stable as it once was. 

The IONOS study also looked at a range of factors as to why so many now want to be entrepreneurs. Some results are surprising, others not so much. Eager to know more about how the pandemic has impacted self-employment, we called in the experts. 

Caroline Castrillon is a successful career coach who helps her clients move towards self- employment and job fulfillment. Caroline has a first-hand insight into the trend of people ditching their jobs for entrepreneurship – here, we talk about the study’s results. 

The Study Explains How Career Perspectives Have Changed Since The Pandemic. What Have You Noticed In Your Coaching? 

There has been a massive change thanks to the pandemic. Remote and hybrid working styles have become more popular. Freedom, flexibility, and fulfillment are more of a priority now for workers and there’s no compromise. 

People’s values and priorities have shifted. Spending time with family and feeling satisfied at work has become more important. 

How Would You Say The Pandemic Has Impacted Entrepreneurship? 

People have begun to reevaluate their values and priorities and are more willing to make compromises with their careers. More time off and flexible working schedules are great benefits that people are accepting lower salaries for. 

One of the main findings from the IONOS study was how more women than men are dissatisfied with their jobs. What has your experience been in coaching females? Women have generally had it harder during the pandemic, particularly in terms of childcare, homeschooling and looking after loved ones. Such circumstances combined with full-time work is a catalyst for burnout. 

Women I have worked with want more from their careers, such as flexible working hours and the opportunity to learn and grow in their professional fields. 

The Pandemic Has Brought More Attention To The Topic Of Sustainability. In The Study, 90% Of Participants Stated They Would Want An Eco-Friendly Business. Would You Say That Sustainability Is A Priority For Budding Entrepreneurs? 

The pandemic has certainly increased global awareness of environmental issues and the great news is that this has sparked a new wave of commitment in finding viable solutions. Consumers are more aware of what they are buying, meaning there has been a rise in demand for sustainable goods and services. 

This new demand opens the door to new eco-markets. The fashion, cosmetics, pharmaceutical, and food industries are all shaping up to meet new standards. This is a brilliant opportunity for entrepreneurs to establish their brands as leaders in sustainability. 

To discover more about the IONOS study, download the free ebook “New Insight into Entrepreneurship in America” 

The Pandemic Has Inspired New Ideas For Businesses 

It seems clear from the IONOS study that the pandemic has encouraged self-employment. The study found that over 40% of Americans see entrepreneurship as more appealing than being employed. There is a certain sense of security that comes with being employed, but it seems that for many, relying on themselves to make money in times of hardship is more reassuring. 

With this new sense of empowerment, new businesses are on the rise. Some people started their entrepreneurial journeys from their kitchen tables during the pandemic, many of which have since blossomed. 

What Else Can You Expect From The IONOS Study? 

The book summarised: 

• The occupational situation of the Brits 
• What hopes and fears when starting a business 
• COVID-19 and its influence on entrepreneurship 
• The importance of digitisation

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