HOUSTON (KIAH) — The insurance experts at Insuranks.com recently analyzed business insurance applications that they’ve processed since the beginning of the COVID-19 pandemic, until the end of December 2021, in order to determine which Small to Midsize Businesses (SMBs) saw the biggest growth per state.
Infographic reveals the most popular startup per state since the start of the global pandemic
- One business insurance marketplace saw a 1,471% increase in applications for startups in the 12 months following the pandemic outbreak
- Food trucks and e-commerce businesses were the most commonly launched around the U.S., along with the likes of online personal trainers, takeout restaurants, mental health therapists, private online tutors and food delivery services
- Gas stations, fish farms and pet sitting businesses were some of the more surprising popular startups
The insurance experts at Insuranks.com recently analyzed business insurance applications that they’ve processed since the beginning of the COVID-19 pandemic, until the end of December 2021, in order to determine which SMBs saw the biggest growth per state.
Some startup businesses were more common than others across all 50 states and Washington DC.
Florida, Kentucky, Texas and Hawaii were home to the most food truck startups, while Georgia, Minnesota and South Dakota saw the highest number of e-commerce startups.
Bartenders, coffee shops, takeout restaurants, food deliveries, graphic designers, private online tutors and mental health therapists were also very popular startups following the beginning of the global pandemic, dominating applications in two states each.
Unsurprisingly, tech startups were the most common SMBs in California, while some of the more unusual SMBs that dominated between March 2020 and December 2021 were found to be:
- Gas Stations (Oklahoma)
- Horse Boarding Facilities (Colorado)
- Ice Cream Businesses (New Mexico)
- Pet Sitting (Montana)
Data analysis also revealed that there was a 1,471% increase in business insurance applications in the 12 months that followed the start of the global pandemic, compared to the 12 months leading up to it, with July 2021 being the most popular month – accounting for 19% of all applications throughout the year.
Ofir Sahar, CEO of Insuranks, commented on the findings:
“2021 was one of the most uncertain years many of us will have ever faced; many found themselves unexpectedly out of work, unable to pay the bills and unsure of where their next paycheck was coming from. What we saw was that people were turning to their hobbies, skills and talents to try to make money and, when sales were looking good, they made the decision to launch their side hustle into a fully-fledged business – one that could potentially go on to become their full-time job.
“When setting up a new business, no matter how small, everyone should look to take out the relevant insurance – it’s better to have it and not need it, than need it but not have it.”
Anyone looking to launch their own business and requiring business insurance can find more information and compare quotes online at: https://www.insuranks.com/cheap-business-insurance-quotes
Those who are looking to launch an e-commerce business can learn more and get quotes here.