Washington, Oct 23 (AFP/APP):Americans enduring a feeble economy and high unemployment because of the coronavirus pandemic are creating start-up companies at a record pace. The drive is favored by very low interest rates, banks that are eager to lend and people with money saved up — both because no one goes out anymore and because of government stimulus aid. “It is not as surprising as you might think,” said John Dearie of the Center for American Entrepreneurship. “People are starting new businesses because they lost their jobs. And because they have capital to start those businesses.” Around 1.6 million companies were created from July to September, by far a record, according to the Census Bureau. Never before had more than a million start-ups emerged in one quarter in America. “The pandemic has definitely spurred interest among young people and adults to launch new businesses. The reason, we believe, is very simple. People are losing jobs,” said J.D. LaRock, the head of the Network for Teaching Entrepreneurship, which is active in 12 countries. “And people are recognizing that the world is changing, and that there are new needs,” he said. So people are proposing business concepts that stem from the pandemic, … Continue reading Americans hit by pandemic create start-ups at record clip