1,421 new business applications were received by the Yuma metropolitan area in 2020
YUMA, Ariz. (KYMA, KECY) — COVID-19 caused hardships on the small business industry but new data is shining the light on future businesses in Yuma.
The United States Census Bureau’s data shows 1,421 new business applications submitted to the Yuma metropolitan area in 2020.
In 2019, Yuma’s new business applications were at 1,077 making a 25% jump in 2020.
According to new US Census Bureau data, one-third of 2021 applications are reviewed as “high-propensity applications” which are businesses with high likelihood of having payroll.
The data shows retail trade applications went up by 59% followed by transportation sector by almost 35%.
Since small businesses are becoming more popular, this data suggests there is going to be a strong trend for complete small business creation in the economy.
The strongest increases of small business have sprouted in the Southeast with Mississippi, Georgia and Louisiana leading the submission of applications at 55%.
A link to the original report can be found here.
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