Florida is the most entrepreneurial state in the nation, based on recent research examining the percentage of the population starting a new business, the percentage of startups still active after a year, the number of small businesses per 100,000 people, and the growth rate of business applications. The U.S. Census Bureau’s Business Formation data show that Florida is leading the nation with 57,299 new business applications last month alone. Florida’s rates of new entrepreneurship outpace those of the more populated states of California and Texas and the quite large New York and Pennsylvania. Florida’s entrepreneurship and job-creation boom is directly linked to a set of policies implemented by the state, first to cultivate a rich macro-environment (designed to keep inflation down and encourage active participation in the workforce) and, second, to catalyze small-business development.
People walk in Miami Beach, Fla., on Jan. 12, 2022. Chandan Khanna/AFP via Getty Images
Commentary
Dr. Siri A. Terjesen is associate dean, research & external relations, founding executive director of the Madden Center for Value Creation.
