The chart presents the leading U.S. states with the highest small business formation rates between 2020 and 2025, illustrating a strong entrepreneurial climate across multiple regions. Florida leads with an impressive average rate of 14.46%, followed closely by Texas at 14.32%, reflecting these states’ favorable environments for business growth. California ranks third with 13.9%, highlighting its vibrant start-up ecosystem. New York follows at 13.2%, while both Illinois and Georgia share 12.74%, signaling significant expansion. North Carolina posts 12.28%, Ohio at 11.88%, and Michigan at 11.46%, each showing steady growth. States like Pennsylvania (11.14%), Arizona (10.94%), New Jersey (10.76%), and Virginia (10.62%) also show strong momentum. Meanwhile, South Carolina closes the top 20 with 9.12%, indicating a broad distribution of small business activity nationwide. This data underscores the critical role of entrepreneurship in driving regional economic growth during this period.
| Labels | Average Rate 2020–2024 (%) |
|---|---|
| Florida | 14.46 |
| Texas | 14.32 |
| California | 13.90 |
| New York | 13.20 |
| Illinois | 12.74 |
| Georgia | 12.74 |
| North Carolina | 12.28 |
| Ohio | 11.88 |
| Michigan | 11.46 |
| Pennsylvania | 11.14 |
| Arizona | 10.94 |
| New Jersey | 10.76 |
| Virginia | 10.62 |
| Washington | 10.38 |
| Massachusetts | 10.12 |
| Tennessee | 9.92 |
| Indiana | 9.72 |
| Missouri | 9.52 |
| Maryland | 9.32 |
| South Carolina | 9.12 |
