“Finding fresh inspiration amid crisis

While many workers started their own businesses out of necessity, plenty jumped into the entrepreneurial waters out of pure inspiration. The pandemic pushed people to reconsider their career goals, and many opted to strike out on their own. 

Social worker Marthea Pitts says the lockdown — and the time for reflection it offered — helped convince her to launch a career consulting firm.

“I needed that time of solitude to really hear what it was that I was supposed to do,” she said. “It gave me time to see what opportunities were out there for me, using my skills, work experience and education.”

Pitts’ transition to entrepreneurship — after years in the workforce — is a common one. Despite the famous tales of college dropouts who find riches and fame as entrepreneurs, the vast majority of business owners are an educated, experienced group, allowing them to parlay the skills they gained from traditional employment to their new ventures. Over 40% of founders have a master’s degree or higher, and 52% were in mid-level positions or higher before starting their own venture, according to LinkedIn data.”