Open for business: U.S. companies are reopening or forming at a frantic pace

The “chief business of the American people is business,” President Calvin Coolidge said almost a century ago. They are proving him right again as the U.S. emerges from the coronavirus pandemic.

The reopening of the economy as the pandemic slowly passes has spawned an explosion in new and reopened businesses. More than 60,000 companies reopened from April through June while almost 151,000 new businesses were created, according to the online review site Yelp.

Reopenings increased at the fastest pace in a year, Yelp found, and the number of startups is the highest since at least 2004, other research shows.

These numbers might just be the tip of the iceberg. They only include companies that are listed on Yelp and generally serve consumers. Other research points to an even bigger surge in new businesses.

The federal government’s U.S. Census, for instance, estimated that nearly 450,000 applications to start new…

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