Report: While hundreds of businesses closed their doors due to COVID, new businesses were being formed | WUSA9

May 05, 2021
  • D.C. Policy Center
Featured Image
Photo/Ted Eytan. Used with permission.

On May 5, 2021, D.C. Policy Center Executive Director Yesim Sayin Taylor, was quoted by WUSA9:

The D.C. Policy Center, a think-tank nonprofit, said hundreds of people like Bryan decided to open small, home-based businesses during the pandemic. In its 2020 report, it found that as hundreds of businesses were being wiped away by the pandemic, just as many new businesses were being formed. “Yes, we lost more companies than we usually would. But we’re seeing still new companies come up to fill the empty spaces,” said Yesim Taylor, Executive Director of the D.C. Policy Center. “Data tell us many of these establishments are online retail establishments, which we all turned to during the pandemic, but also other services. For example, accounting services, HR services and back-office support for larger businesses.

Read more: Report: While hundreds of businesses closed their doors due to COVID, new businesses were being formed | WUSA9

Related: 2020 State of Business Report: Pivoting from Pandemic to Recovery| D.C. Policy Center

Author

D.C. Policy Center


Established in 2016, the D.C. Policy Center is a non-partisan research and policy organization committed to advancing policies for a strong and vibrant economy in the District of Columbia. Through rigorous research and collaboration, the D.C. Policy Center develops and tests policy ideas, disseminates its findings, and engages in constructive dialogue and debate.

For more information, please see our About page.