Marketplace Time to strike out on your own?
Dec 15, 2025
Henry Epp, a Marketplace reporter focused on business trends, discusses the recent surge in new business applications, particularly in retail—possibly a response to shifting job security and economic pressures. Abdullah Al-Burrani, an economics professor, highlights issues of data reliability that cloud economic interpretations. Lillian Karabik sheds light on how health insurers are prioritizing costly devices, arguing they can save money on emergency visits. The conversation dives into trends, motivations for side hustles, and evolving market dynamics.
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Spike In New Business Applications
- New business applications rose 7% month-over-month and over 20% year-over-year, with a big spike in retail trade applications.
- Easier online tools and economic uncertainty are driving people to form side hustles or new small businesses now.
Retail Leads The Surge
- The biggest growth in new applications is in retail trade, mirroring a pandemic-era pattern.
- People respond to shocks and wage pressure by starting small retail or service businesses as alternative income sources.
Garage Business Launched Fast
- Vincent Popolo and his cousin used web services to register Maryland Garage Solutions and launched within a month.
- He quit his corporate tech job and found steady business organizing garages through word of mouth.