Deluxe Sees Double Digit Increase in Business Incorporation in 2020
November 18 2020 - 8:00AM
Business Wire
Small business optimism grows as new business
formation climbs through the pandemic
Today, Deluxe (NYSE: DLX), a Trusted Business Technology™
company, announced that demand for its small business incorporation
services increased 10 percent in 2020 over 2019. The increase was
driven by incorporations of construction, trucking, cleaning
services, online sales, consulting, food trucks, landscaping and
real estate companies. The acceleration of entrepreneurship
coincides with an increase in COVID-19 related unemployment and
desire by more people to control their financial future by starting
businesses.
“Small business owners are starting new ventures and careers in
the middle of a pandemic,” said Barry McCarthy, President and CEO
of Deluxe. “We think the increased use of Deluxe incorporation
services is a leading indicator of small business futures and shows
optimism in the small business market going into 2021. These
entrepreneurs are risking it all, even at such an uncertain time.
Deluxe has proudly supported the incredible pioneering spirit of
small business owners for 105 years.”
Deluxe is a recognized leader in business services and products
supporting 4.5 million small businesses, and more than 4,000
financial institutions. “Championing Business so Communities
Thrive” is more than just a tagline. Deluxe technology and
innovations support businesses throughout their lifecycle, from
incorporation to maturity.
“Our analysis suggests many Americans are pivoting to
entrepreneurship despite the headwinds of pandemic uncertainty,”
said Garry Capers, president of Cloud Solutions for Deluxe.
“Whether they were laid off from a corporate job or transitioned
from one small business venture to another, the increase in small
business formation signals continued confidence in the American
dream of owning your own business. This acceleration follows a
similar pattern following the economic downturn of 2007-08.”
This holiday season, Deluxe is bringing awareness to the need to
support small businesses, especially when consumers may be relying
on online options. A new Deluxe/Harris Poll of more than 2,000
Americans found that 86 percent are concerned about the
pandemic-induced effects on small businesses within their
communities. Yet people want to support small business owners, and
entrepreneurs continue to start new businesses while finding new
ways to keep their customers safe in communities large and small
across the country.
“Small businesses are always going to be the lifeblood of the
economy. If we can bring awareness, especially now, during the
busiest retail time of the year, we can help new and established
business owners thrive,” McCarthy said. “We have a storied history
of supporting and cheering-on small businesses. Our support is more
important than ever this year.”
From online purchases, to delivery, to socially distanced
in-person experiences, small businesses have fully adapted to the
new reality. Deluxe business experts know this first-hand, not only
through their daily interactions with small business owners, and
through the Deluxe Small Business Revolution television series, now
in its fifth season. Annually, the public chooses one small town in
the US to receive a $500,000 small business makeover from Deluxe.
This year, when filming began in Fredonia, NY, Deluxe business
professionals walked side-by-side with seven business owners to
help them with products, services and business advice to survive
COVID-19. The series can be viewed on Hulu, Amazon Prime and at
www.smallbusinessrevolution.org.
For more information about Deluxe’s business incorporation
services, visit www.deluxe.com/smallbusiness.
About Deluxe
Deluxe is a Trusted Business Technology™ company that champions
business so communities thrive. Our solutions help businesses pay
and get paid, accelerate growth, and operate more efficiently. For
more than 100 years, we’ve been helping businesses succeed at all
stages of their lifecycle, from start-up to maturity. Our powerful
global scale supporting approximately 4.5 million small businesses,
over 4,000 financial institutions, hundreds of the world’s largest
consumer brands and processing more than $2.8 trillion in annual
payment volume, positions Deluxe to be our customers’ most trusted
business partner. To learn how we can help your business, visit us
at www.deluxe.com, www.facebook.com/deluxecorp,
www.linkedin.com/company/deluxe, or www.twitter.com/deluxecorp.
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version on businesswire.com: https://www.businesswire.com/news/home/20201118005101/en/
Cameron Potts, VP of Corporate Communications 651-233-7735
cameron.potts@deluxe.com
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