Posted inThe Economy

Here’s What Led To A Record-setting 5.4 Million Business Applications Last Year

It’s a record-breaking era for new businesses. The IRS received nearly 5.4 million business applications in 2021 – a peak since the U.S. Census began producing the Business Formation Statistics report in 2004. The report showed that there were about 1 million more new business applications in 2021 than in 2020, which was also a record-setting year.