Entrepreneurship in Economic Crises: A Look at Four Recession Periods between 1978 and 2018 in the United States

The effects of the COVID-19 pandemic are being closely watched, and what happens to employer businesses during and after this downturn is an important part of the recovery. A look at four recession periods in the United States between 1978 and 2018 may offer some insight into the trajectory of entrepreneurship during and after economic crises. This paper highlights important patterns between employer startups (less than 1 year old) and employer firms 1 year or older, as well as between younger employer firms (0-5 years) and older employer firms (6 years and older) between 1978 and 2018.