The pandemic wreaked a lot of havoc for businesses, and it took a really long time for things to start to get back to normal. In spite of the fact that this is the case, it seems that the impact of the pandemic is finally starting to give way, with a massive uptick in the number of new businesses that are opening their doors for the first time.
This is based on data from Yelp which indicates that there has been a 12% increase in the openings of new businesses as compared to 2019. With all of that having been said and now out of the way, it is important to note that local services businesses are likely driving much of this growth, since night life, restaurant and other similar businesses have yet to pick up steam in the aftermath of the pandemic.
It should also be mentioned that this growth rate was seen across the entirety of the US, with practically every state seeing more businesses open than ever before. The South is experiencing an especially promising rate of growth, with businesses in that region growing faster than might have been the case otherwise.
However, things aren’t looking quite as rosy in a number of major US cities. For example, the growth rate for new businesses in San Francisco has yet return to pre-pandemic levels, let alone surpass them. That seems to suggest that the growth rate is not being distributed all that evenly with all things having been considered and taken into account.
Since there are so many new companies and businesses, they will very likely invest in search ads and digital ads because of the fact that this is the sort of thing that could potentially end up driving foot traffic.
These businesses are still in a very early stage of their life cycle, which means that they will need all the help that they can get in order to get things going. That might lead to a boost in the digital ad industry which is sorely needed considering how much turmoil it’s been immersed in.
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This is based on data from Yelp which indicates that there has been a 12% increase in the openings of new businesses as compared to 2019. With all of that having been said and now out of the way, it is important to note that local services businesses are likely driving much of this growth, since night life, restaurant and other similar businesses have yet to pick up steam in the aftermath of the pandemic.
It should also be mentioned that this growth rate was seen across the entirety of the US, with practically every state seeing more businesses open than ever before. The South is experiencing an especially promising rate of growth, with businesses in that region growing faster than might have been the case otherwise.
However, things aren’t looking quite as rosy in a number of major US cities. For example, the growth rate for new businesses in San Francisco has yet return to pre-pandemic levels, let alone surpass them. That seems to suggest that the growth rate is not being distributed all that evenly with all things having been considered and taken into account.
Since there are so many new companies and businesses, they will very likely invest in search ads and digital ads because of the fact that this is the sort of thing that could potentially end up driving foot traffic.
These businesses are still in a very early stage of their life cycle, which means that they will need all the help that they can get in order to get things going. That might lead to a boost in the digital ad industry which is sorely needed considering how much turmoil it’s been immersed in.
