Although the pandemic environment has been devastating for the business community, small and medium-sized businesses in particular, current trends in business destruction and formation are showing more optimistic trends.
Furthermore, the chart on the right hand illustrates the industries that driven the growth in business establishments. As you can see, over the 2-year period between December 2019 – December 2021, the Information industry, which is dominated by tech firms, has led the way with a 39% growth in businesses.