‘Where were we the whole time?’ Entrepreneurs bloom as COVID-19 fuels start-up surge
When the COVID-19 pandemic shut down businesses across the country, Rubin Stack decided it was the right time to start a new one.
It was an idea the independent-minded entrepreneur had been mulling over during the crisis: a functional workspace desk, called , was meant to offer a solution to modern students and work from home employees.
Stack experienced how his kitchen table morphed into a multi-use zone that encapsulated a home office, dining area and video conference center — often all at the same time. He understood there was a “better way to do this” as employees continue to work-from-home.
“I tried to embody that design and create a Murphy desk if you will,” said Stack, who continues to work as an associate for Sandfox Advisors, a boutique advisory firm in Santa Monica, CA.
“It was a way for people to be able to have a comfortable and professional set at home while not having to sacrifice just your general work set up,” Stack told Yahoo Finance in an interview.
Pooling together funds from the past three years working in investment banking to get his business off the ground in July, Stack decided to take the plunge — becoming one of the in the COVID-19 era.
“I could have listed a hundred reasons why it wasn’t the perfect time to start, [but] if you believe in it, you just have to go for it,” Stack added. He referenced the that hit the market this year, which made it harder for businesses to address surging demand.
The 26-year old who continues to work full time, is part of the surge in U.S. start-ups. According to a Goldman Sachs analysis, the number of active small businesses is only 4% below its pre-pandemic level after being decimated in 2020, while the number of total small businesses has actually risen.
‘Where were we the whole time?’
To be sure, surging COVID-19 infections fueled by the Delta variant are a threat to the outlook. At least for now, however, about 4.3 million new business applications were filed in 2020 — almost 1 million more than in 2019, according to figures from the .