Americans hit by pandemic create startups at record clip

Around 1.6 million companies were created in the United States from July to September. — Pixabay

WASHINGTON: Americans enduring a feeble economy and high unemployment because of the coronavirus pandemic are creating startup companies at a record pace.

The drive is favoured 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.