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 | 93,290.0 | 7,629.2 |
| 2 | Texas | 49,647.0 | 59,754.0 | 62,407.0 | 64,019.0 | 63,468.0 | 4,988.2 |
| 3 | Florida | 48,875.0 | 57,757.0 | 58,691.0 | 60,362.0 | 58,435.0 | 4,735.3 |
| 4 | New York | 31,711.0 | 39,380.0 | 39,616.0 | 41,752.0 | 39,497.0 | 3,199.3 |
| 5 | Georgia | 19,490.0 | 22,015.0 | 21,841.0 | 21,979.0 | 19,767.0 | 1,751.5 |
| 6 | North Carolina | 17,571.0 | 20,025.0 | 21,065.0 | 21,553.0 | 20,688.0 | 1,681.7 |
| 7 | Illinois | 17,511.0 | 20,477.0 | 19,563.0 | 19,764.0 | 19,333.0 | 1,610.8 |
| 8 | Washington | 14,241.0 | 17,168.0 | 17,170.0 | 17,318.0 | 18,810.0 | 1,411.8 |
| 9 | Pennsylvania | 14,396.0 | 16,991.0 | 16,336.0 | 17,658.0 | 16,777.0 | 1,369.3 |
| 10 | New Jersey | 13,669.0 | 17,067.0 | 17,017.0 | 17,129.0 | 17,112.0 | 1,366.6 |
| 11 | Colorado | 12,648.0 | 13,925.0 | 14,239.0 | 15,093.0 | 14,520.0 | 1,173.8 |
| 12 | Virginia | 12,099.0 | 13,832.0 | 13,887.0 | 14,253.0 | 13,916.0 | 1,133.1 |
| 13 | Ohio | 12,353.0 | 13,716.0 | 13,752.0 | 14,074.0 | 14,011.0 | 1,131.8 |
| 14 | Arizona | 11,005.0 | 13,524.0 | 14,230.0 | 14,828.0 | 14,157.0 | 1,129.1 |
| 15 | Michigan | 11,522.0 | 13,865.0 | 13,554.0 | 13,939.0 | 13,003.0 | 1,098.0 |
| 16 | Massachusetts | 11,006.0 | 13,132.0 | 13,240.0 | 13,564.0 | 13,666.0 | 1,076.8 |
| 17 | Tennessee | 9,540.0 | 11,459.0 | 11,918.0 | 12,099.0 | 11,454.0 | 941.2 |
| 18 | Missouri | 9,819.0 | 11,520.0 | 10,926.0 | 11,479.0 | 10,890.0 | 910.6 |
| 19 | Indiana | 8,598.0 | 10,048.0 | 10,495.0 | 11,106.0 | 10,679.0 | 848.8 |
| 20 | Utah | 9,020.0 | 9,983.0 | 10,332.0 | 10,860.0 | 10,555.0 | 845.8 |
| 21 | Oregon | 8,009.0 | 9,650.0 | 9,470.0 | 9,219.0 | 10,265.0 | 776.9 |
| 22 | South Carolina | 7,712.0 | 9,223.0 | 9,606.0 | 9,557.0 | 8,959.0 | 751.0 |
| 23 | Minnesota | 7,499.0 | 9,066.0 | 8,821.0 | 9,183.0 | 9,075.0 | 727.4 |
| 24 | Maryland | 7,291.0 | 8,145.0 | 8,096.0 | 8,140.0 | 7,643.0 | 655.2 |
| 25 | Wisconsin | 6,650.0 | 8,118.0 | 8,372.0 | 8,186.0 | 7,768.0 | 651.6 |
| 26 | Nevada | 6,834.0 | 7,868.0 | 7,881.0 | 8,345.0 | 7,911.0 | 647.3 |
| 27 | Alabama | 6,370.0 | 7,475.0 | 7,742.0 | 7,733.0 | 7,161.0 | 608.0 |
| 28 | Oklahoma | 5,813.0 | 6,404.0 | 6,774.0 | 6,966.0 | 6,281.0 | 537.3 |
| 29 | Kentucky | 4,909.0 | 5,715.0 | 6,022.0 | 6,715.0 | 6,212.0 | 492.9 |
| 30 | Louisiana | 5,659.0 | 6,337.0 | 6,193.0 | 5,688.0 | 5,174.0 | 484.2 |
| 31 | Idaho | 4,864.0 | 5,912.0 | 5,928.0 | 5,734.0 | 5,803.0 | 470.7 |
| 32 | Connecticut | 4,240.0 | 5,242.0 | 5,313.0 | 5,505.0 | 5,425.0 | 428.8 |
| 33 | Iowa | 4,120.0 | 5,023.0 | 5,042.0 | 5,234.0 | 5,072.0 | 408.2 |
| 34 | Kansas | 4,305.0 | 4,776.0 | 5,099.0 | 4,983.0 | 4,891.0 | 400.9 |
| 35 | Arkansas | 4,382.0 | 4,969.0 | 5,000.0 | 5,045.0 | 4,574.0 | 399.5 |
| 36 | Mississippi | 3,408.0 | 3,959.0 | 4,191.0 | 3,963.0 | 3,616.0 | 318.9 |
| 37 | Nebraska | 3,166.0 | 3,669.0 | 3,946.0 | 3,974.0 | 3,856.0 | 310.2 |
| 38 | Delaware | 2,511.0 | 3,309.0 | 3,554.0 | 4,272.0 | 4,688.0 | 305.6 |
| 39 | Montana | 2,778.0 | 3,515.0 | 3,628.0 | 3,593.0 | 3,767.0 | 288.0 |
| 40 | Wyoming | 2,263.0 | 2,512.0 | 3,202.0 | 4,216.0 | 4,694.0 | 281.4 |
| 41 | New Mexico | 2,420.0 | 2,981.0 | 3,301.0 | 3,398.0 | 3,361.0 | 257.7 |
| 42 | Maine | 2,551.0 | 3,236.0 | 3,093.0 | 3,143.0 | 3,107.0 | 252.2 |
| 43 | New Hampshire | 2,160.0 | 2,443.0 | 2,528.0 | 2,650.0 | 2,789.0 | 209.5 |
| 44 | Rhode Island | 1,787.0 | 2,199.0 | 2,183.0 | 2,232.0 | 2,169.0 | 176.2 |
| 45 | South Dakota | 1,679.0 | 2,157.0 | 2,156.0 | 2,215.0 | 2,162.0 | 172.8 |
| 46 | West Virginia | 1,571.0 | 1,818.0 | 1,907.0 | 1,936.0 | 1,903.0 | 152.2 |
| 47 | Hawaii | 1,397.0 | 1,925.0 | 1,761.0 | 1,723.0 | 1,673.0 | 141.3 |
| 48 | North Dakota | 1,332.0 | 1,679.0 | 1,633.0 | 1,736.0 | 1,681.0 | 134.3 |
| 49 | Alaska | 1,361.0 | 1,526.0 | 1,615.0 | 1,523.0 | 1,591.0 | 126.9 |
| 50 | Vermont | 1,011.0 | 1,266.0 | 1,329.0 | 1,275.0 | 1,251.0 | 102.2 |
| 51 | District of Columbia | 975.0 | 1,091.0 | 1,046.0 | 1,147.0 | 1,157.0 | 90.3 |
Description: This table ranks all states by their 5-year total formations, showing annual totals and a 5-year average monthly formation rate.