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Business Observer Friday, Mar. 11, 2022 8 months ago

Florida is a national leader in business startups

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Florida is a nationwide leader in a surge of new business formations, pacing a growing trend.
by: Mark Gordon Managing Editor

New business starts are coming in fast nationwide and Florida is galloping to the lead.

Nearly six million applications for new businesses were filed from January 2021 through January 2022, according to business formation data from the U.S Census Bureau, compiled by 24/7 Wall Street. That’s 1,772 for every 100,000 Americans.

Florida had the most new business formation among any state, with 683,680, the report shows. That puts the state No. 4 nationwide in applications per 100,000 people behind Wyoming, Delaware and Georgia. The biggest month for applications in Florida was May, at 62,956, while, December, with 47,191 new business applications, was the lowest month of applications. States with the lowest amount of new business applications per 100,000 people include New Hampshire, Maine, Nebraska, Iowa and West Virginia.

The report points out what’s painfully clear to many who have started a business: “It’s important to note that not all new business applications result in the creation of a new business, and only about 80% of new businesses last for more than a year.”

 

Total new business applications:

Florida: 683,680

California: 563,102

Texas: 536,301

Georgia: 349,426

New York: 336,510

Illinois: 213,601

North Carolina: 187,229

New Jersey: 177,506

Pennsylvania: 170,934

Ohio: 166,938

Michigan: 162,478

 

Total new business applications per 100,000 people:

Wyoming: 6,395

Delaware: 4,973

Georgia: 3,291

Florida: 3,183

Nevada: 2,384

Mississippi: 2,347 

Louisiana: 2,308

Utah: 2,139

Colorado: 2,098

Maryland: 2,050

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