U.S. State Comparison: Spliced Business Formations within Four Quarters (2020-2024)
š Stacked Bar Chart: Total Formations by State (2020-2024)
Use this to identify states with consistent growth (taller stacks toward 2024) or those peaking in specific years (e.g., 2020 spikes may reflect pandemic-driven entrepreneurship). Hover over bars for exact totals.
Description: This chart stacks total business formations for each state across 2020ā2024. Each year is color-coded (2020: red, 2021: teal, 2022: blue, 2023: green, 2024: yellow) to show how formations evolved over time.
š Grouped Bar Chart: Top 10 States by Total Formations (2020-2024)
Use this to assess which states are business formation hubs and how they weathered economic shifts. Hover for detailed values.
Description: This chart compares the top 10 states (ranked by 5-year total formations) across each year. Each bar group shows formations for 2020ā2024, making it easy to spot annual leaders (e.g., California or Texas) and trends (e.g., recovery from 2020).
š Table: State Rankings by Year (2020-2024)
Use the rank to identify top performers (e.g., top 5 states for investment focus), annual columns to spot year-specific surges or drops (e.g., 2020 pandemic impact), and the average to compare normalized activity (higher averages indicate sustained formation rates).
Sortable in your browser for custom analysis.
| Rank | State | 2020 Total | 2021 Total | 2022 Total | 2023 Total | 2024 Total | 5-Yr Avg Monthly |
|---|---|---|---|---|---|---|---|
| 1 | California | 81,771.0 | 93,040.0 | 92,771.0 | 96,881.0 | 93,191.0 | 6,445.8 |
| 2 | Texas | 49,647.0 | 59,754.0 | 62,407.0 | 64,019.0 | 63,353.0 | 4,213.8 |
| 3 | Florida | 48,875.0 | 57,757.0 | 58,691.0 | 60,362.0 | 58,316.0 | 4,000.0 |
| 4 | New York | 31,711.0 | 39,380.0 | 39,616.0 | 41,752.0 | 39,497.0 | 2,703.6 |
| 5 | Georgia | 19,490.0 | 22,015.0 | 21,841.0 | 21,979.0 | 19,755.0 | 1,480.0 |
| 6 | North Carolina | 17,571.0 | 20,025.0 | 21,065.0 | 21,553.0 | 20,709.0 | 1,421.5 |
| 7 | Illinois | 17,511.0 | 20,477.0 | 19,563.0 | 19,764.0 | 19,328.0 | 1,361.2 |
| 8 | Washington | 14,241.0 | 17,168.0 | 17,170.0 | 17,318.0 | 18,805.0 | 1,193.0 |
| 9 | Pennsylvania | 14,396.0 | 16,991.0 | 16,336.0 | 17,658.0 | 16,767.0 | 1,157.0 |
| 10 | New Jersey | 13,669.0 | 17,067.0 | 17,017.0 | 17,129.0 | 17,065.0 | 1,154.2 |
| 11 | Colorado | 12,648.0 | 13,925.0 | 14,239.0 | 15,093.0 | 14,494.0 | 991.5 |
| 12 | Virginia | 12,099.0 | 13,832.0 | 13,887.0 | 14,253.0 | 13,919.0 | 957.6 |
| 13 | Ohio | 12,353.0 | 13,716.0 | 13,752.0 | 14,074.0 | 14,022.0 | 956.6 |
| 14 | Arizona | 11,005.0 | 13,524.0 | 14,230.0 | 14,828.0 | 14,158.0 | 954.2 |
| 15 | Michigan | 11,522.0 | 13,865.0 | 13,554.0 | 13,939.0 | 13,005.0 | 928.0 |
| 16 | Massachusetts | 11,006.0 | 13,132.0 | 13,240.0 | 13,564.0 | 13,664.0 | 909.9 |
| 17 | Tennessee | 9,540.0 | 11,459.0 | 11,918.0 | 12,099.0 | 11,464.0 | 795.5 |
| 18 | Missouri | 9,819.0 | 11,520.0 | 10,926.0 | 11,479.0 | 10,889.0 | 769.5 |
| 19 | Indiana | 8,598.0 | 10,048.0 | 10,495.0 | 11,106.0 | 10,676.0 | 717.2 |
| 20 | Utah | 9,020.0 | 9,983.0 | 10,332.0 | 10,860.0 | 10,582.0 | 715.2 |
| 21 | Oregon | 8,009.0 | 9,650.0 | 9,470.0 | 9,219.0 | 10,283.0 | 656.8 |
| 22 | South Carolina | 7,712.0 | 9,223.0 | 9,606.0 | 9,557.0 | 8,977.0 | 634.9 |
| 23 | Minnesota | 7,499.0 | 9,066.0 | 8,821.0 | 9,183.0 | 9,088.0 | 614.9 |
| 24 | Maryland | 7,291.0 | 8,145.0 | 8,096.0 | 8,140.0 | 7,643.0 | 553.7 |
| 25 | Wisconsin | 6,650.0 | 8,118.0 | 8,372.0 | 8,186.0 | 7,774.0 | 550.7 |
| 26 | Nevada | 6,834.0 | 7,868.0 | 7,881.0 | 8,345.0 | 7,913.0 | 547.1 |
| 27 | Alabama | 6,370.0 | 7,475.0 | 7,742.0 | 7,733.0 | 7,162.0 | 513.8 |
| 28 | Oklahoma | 5,813.0 | 6,404.0 | 6,774.0 | 6,966.0 | 6,285.0 | 454.1 |
| 29 | Kentucky | 4,909.0 | 5,715.0 | 6,022.0 | 6,715.0 | 6,228.0 | 416.7 |
| 30 | Louisiana | 5,659.0 | 6,337.0 | 6,193.0 | 5,688.0 | 5,176.0 | 409.2 |
| 31 | Idaho | 4,864.0 | 5,912.0 | 5,928.0 | 5,734.0 | 5,796.0 | 397.7 |
| 32 | Connecticut | 4,240.0 | 5,242.0 | 5,313.0 | 5,505.0 | 5,421.0 | 362.3 |
| 33 | Iowa | 4,120.0 | 5,023.0 | 5,042.0 | 5,234.0 | 5,075.0 | 345.0 |
| 34 | Kansas | 4,305.0 | 4,776.0 | 5,099.0 | 4,983.0 | 4,889.0 | 338.8 |
| 35 | Arkansas | 4,382.0 | 4,969.0 | 5,000.0 | 5,045.0 | 4,585.0 | 337.8 |
| 36 | Mississippi | 3,408.0 | 3,959.0 | 4,191.0 | 3,963.0 | 3,609.0 | 269.4 |
| 37 | Nebraska | 3,166.0 | 3,669.0 | 3,946.0 | 3,974.0 | 3,850.0 | 262.0 |
| 38 | Delaware | 2,511.0 | 3,309.0 | 3,554.0 | 4,272.0 | 4,689.0 | 258.2 |
| 39 | Montana | 2,778.0 | 3,515.0 | 3,628.0 | 3,593.0 | 3,767.0 | 243.4 |
| 40 | Wyoming | 2,263.0 | 2,512.0 | 3,202.0 | 4,216.0 | 4,695.0 | 237.9 |
| 41 | New Mexico | 2,420.0 | 2,981.0 | 3,301.0 | 3,398.0 | 3,364.0 | 217.8 |
| 42 | Maine | 2,551.0 | 3,236.0 | 3,093.0 | 3,143.0 | 3,109.0 | 213.1 |
| 43 | New Hampshire | 2,160.0 | 2,443.0 | 2,528.0 | 2,650.0 | 2,792.0 | 177.1 |
| 44 | Rhode Island | 1,787.0 | 2,199.0 | 2,183.0 | 2,232.0 | 2,171.0 | 148.9 |
| 45 | South Dakota | 1,679.0 | 2,157.0 | 2,156.0 | 2,215.0 | 2,169.0 | 146.1 |
| 46 | West Virginia | 1,571.0 | 1,818.0 | 1,907.0 | 1,936.0 | 1,901.0 | 128.6 |
| 47 | Hawaii | 1,397.0 | 1,925.0 | 1,761.0 | 1,723.0 | 1,674.0 | 119.4 |
| 48 | North Dakota | 1,332.0 | 1,679.0 | 1,633.0 | 1,736.0 | 1,684.0 | 113.6 |
| 49 | Alaska | 1,361.0 | 1,526.0 | 1,615.0 | 1,523.0 | 1,590.0 | 107.3 |
| 50 | Vermont | 1,011.0 | 1,266.0 | 1,329.0 | 1,275.0 | 1,254.0 | 86.4 |
| 51 | District of Columbia | 975.0 | 1,091.0 | 1,046.0 | 1,147.0 | 1,157.0 | 76.3 |
Description: This table ranks all states by their 5-year total formations, showing annual totals and a 5-year average monthly formation rate.