Michigan among Top 3 states for entrepreneurial success, per statistics

A new study has revealed the best states in America for entrepreneurial success, with Oregon, Montana and Michigan taking the top spots.

Digital marketing site DesignRush analyzed data from the US Bureau of Labor Statistics to find the change in the number of business establishments per state between September 2022 and September 2023. The states with the greatest percentage increase of businesses over the year determined the ranking.

Oregon ranks top, with a 9.9% increase in business establishments over the course of the year. Oregon reported a total of 185,096 businesses in 2022 and 203,369 in 2023 for a net increase of 18,273.

Coming in second place is Montana, with a 9.4% gain in businesses over the 12 months. The state had 61,185 businesses in 2022 and grew to 66,947 in 2023 for a net increase of 5,762.

Third in the ranking is Michigan, with an 8.9% rise in businesses during the year. From 298,855 establishments in 2022, Michigan climbed to 325,467 in 2023 for a net increase of 26,612.

In the raw numbers of newly registered businesses, only California, with its much larger population, topped Michigan, with more than 58,000 new businesses registered in the twelve month period.

Gianluca Ferruggia, General Manager at DesignRush, commented on the findings:

“It’s great to see states from all areas of the US making the top ten ranking. This could suggest that America as a whole is well equipped for entrepreneurs and business ventures. It’ll be interesting to see if any new states make the ranking in the future as more establishments are founded.”

For more background on the survey and statistics,   ttps://www.designrush.com/