The numbers show more than 5 million new business applications were filed nationwide in 2022, up from pre-pandemic levels in 2019, after decades of decline.
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North Carolina is seeing the same record-setting trend. According to N.C. Secretary of State Business Registration numbers, the number of new businesses spiked in 2020 when the pandemic disrupted the economy.
The upward trend set a record in 2021 with more than 177,000 new business registrations across the state.
In 2022, the number dropped just slightly to about 170,000 showing despite fears of a recession and market uncertainties; many feel now is the right time to start a business.
Anna Grace Fitzgerald is one of the millions who started a business in 2022 when she opened Copperline Plant Co in Raleigh's City Market.
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"When 2022 started, I knew that I wanted to have a brick and mortar," Fitzgerald said. "So, I just took the leap of faith. This is the most and the hardest that I've worked, but it's the most fulfilled I've ever been."
The data shows the country's sharpest increase in new businesses is in southern states where many have recently migrated.
Florida and Texas had the biggest increase in applications in 2022.