A new study has named the top ten states submitting the most business applications, and Wyoming takes the top spot.
Business valuation experts Eton Venture Services collected county data from the United States Census Bureau to calculate each state’s total business applications submitted in 2022. After determining each state’s total, they weighed the figures against each state’s population to create a fair and final ranking from most to least business applications per 100,000 residents.
Topping the ranking in first place is Wyoming, where a staggering 7,149 business applications were submitted per 100,000 people in 2022. The Wyoming county that started the most businesses in 2022 was Sheridan County, with 68,849 applications per 100,000 people.
In second place is Delaware, accumulating 4,465 business applications per 100,000 residents in 2022. Kent County submitted the most applications within the state, with 6,829 per 100,000 residents.
Florida ranks third with 2,730 businesses started in 2022 per 100,000 residents. Miami-Dade County submitted 4,760 business applications, making it the Florida county starting the most businesses.
In fourth place is Georgia, with 2,498 business applications submitted per 100,000 people. The Georgia county that started the most businesses in 2022 is Fulton County, which saw 4,644 applications per 100,000 people.
Fifth place belongs to Colorado, where 1,981 business applications were submitted per 100,000 people in 2022. The county starting the most businesses in Colorado is Pitkin County, where 4,032 business applications were submitted per 100,000 residents.
Ranking sixth is Nevada, as 1,945 businesses were started per 100,000 residents in 2022 – with Clark County submitting the highest volume of applications of all the counties in Nevada, at 2,113 per 100,000 people.
Utah places seventh, reporting 1,925 business applications submitted in 2022 per 100,000 residents. In Utah, Summit County starts the most businesses, with 3,019 applications received per 100,000 residents.
With 1,893 business applications submitted in 2022 per 100,000 people, Mississippi comes in eighth place. Coahoma County submitted 3,855 applications per 100,000 people, making it the Mississippi county starting the most businesses.
Montana saw 1,828 business applications submitted per 100,000 residents in 2022, placing the state in ninth place. Flathead County in Montana started approximately 3,711 businesses per 100,000 residents – that’s more than any other county in the state.
Just making the top ten states starting the most businesses is Louisiana in tenth place. The state reported that 1,751 business applications were submitted per 100,000 people in 2022, and the county submitting the most applications is Orleans Parish, with 2,584.
Top ten states submitting the most business applications in 2022
|
Rank |
State |
Applications per 100k |
|
1 |
Wyoming |
7,149 |
|
2 |
Delaware |
4,465 |
|
3 |
Florida |
2,730 |
|
4 |
Georgia |
2,498 |
|
5 |
Colorado |
1,981 |
|
6 |
Nevada |
1,945 |
|
7 |
Utah |
1,925 |
|
8 |
Mississippi |
1,893 |
|
9 |
Montana |
1,828 |
|
10 |
Louisiana |
1,751 |
Chris Walton, President and CEO of Eton Venture Services, has commented on the findings:
“Starting a business is an exciting venture that allows you to turn your ideas into reality, and starting a business in America specifically can be extremely rewarding due to the strong economy and ever-expanding customer base. There are lots of resources available, like funding options and legal protection. However, dealing with rules and competition can be tough. You need a good plan, creativity, and market knowledge to succeed.
“Owning your own business is often seen as a key part of the American dream that many people chase and symbolizes the freedom to create your own success. Seeing so many states submit high volumes of business applications reflects America's robust and growing entrepreneurial spirit.”
This story was provided by Eton Venture Services. Visit https://etonvs.com/.