Analysis from Census data in the US reveals certain cities and states where small businesses are growing and where they aren't.
An average of 430,000 new business applications are received each month in the US in 2024; nevertheless, small firms are faring much better in some regions of the nation than others.
OnDeck determined which states, counties, and metropolitan areas had the fastest-growing small businesses using small business data from the US Census. The most recent data available comes from 2020–2021, and only companies with fewer than 500 workers were examined.
Idaho is seeing the greatest growth in small enterprises, with a 6.55 percent year-over-year gain. Delaware grows at a rate of 5.55 percent.
Only one state showed a decline in the number of small enterprises throughout the time under analysis: New York (-0.05 percent), whilst West Virginia had no growth at all.
The metropolitan region with the largest rise in small businesses between 2020 and 2021 was LaGrange, Georgia (19.85%).
Sheridan County, Wyoming, came in first place among US counties with a 21.51 percent share.
