COVID-19 and Entrepreneurship: A Changing World

The pandemic has had a major influence on our daily lives, particularly our working lives. According to new IONOS research, more than 44% of Americans want to start their own businesses as a result of the pandemic. 

Caroline Castrillon, a successful career coach, helps her clients leave their corporate jobs and has had an influx of people wanting to go self-employed in the last couple of years. To learn more about the pandemic’s effects on entrepreneurship and careers, we spoke to Caroline about her experiences and gained some insights.

What changes have you observed in people’s career aspirations since the pandemic?

Remote and hybrid working have grown more widespread, and this trend appears to be accelerating. More people are seeking flexibility, pleasure, and fulfillment in their working lives. People’s interests and priorities have evolved, such that spending time with their families and being content in their profession have become more important. 

How do you think the pandemic has impacted people’s working lives?

Due to the pandemic, more individuals are reconsidering their values and priorities like never before. As a result, they are more ready to make concessions at work such as accepting a lower salary as compensation for more time off or a flexible schedule. 

According to the IONOS research, women are more dissatisfied with their employers than men. Have you seen this firsthand with your female clients?

Yes, I think this is especially true right now because women have had to shoulder the burden of the pandemic while caring for children, home-schooling, and caregiving for family members in recent years. Women have been suffering from burnout because of the demands they face whilst trying to balance full-time work and raising a family.

Female employees want more from their employment and careers, such as adaptability, career development opportunities, and simply the chance to learn and develop professionally.

The outbreak has demonstrated how important sustainability is, with 90% of the participants in the study claiming that is it essential for them when considering their future businesses. Would you advise budding entrepreneurs to prioritize sustainability?

There’s no doubt that the pandemic has raised global awareness of environmental concerns and has sparked a renewed commitment to finding answers. As a result, there is an increase in demand for sustainable products and services. 

Sustainable goods are gaining popularity among consumers, allowing for the entrance of new markets. This creates possibilities new businesses to establish credibility and enhance their bottom line. 

To learn more about the US study from IONOS and hear more from Caroline Castrillon, download the free ebook “New Insights into Entrepreneurship in America.”