
A new study has revealed Michigan is the third-best state in the nation for startup business growth with an 8.9 percent increase in new businesses between 2022 and 2023.
Digital marketing site DesignRush analyzed data from the U.S. Bureau of Labor Statistics to find the change in the number of business establishments per state between September 2022 and September 2023.
Oregon led the way with a 9.9 percent increase in new businesses, while Montana came in second with a 9.4 percent increase.
In Michigan, there were 325,467 registered new businesses in 2023, compared to 298,855 in 2022.
“It’s great to see states from all areas of the U.S. making the top 10 ranking,” says Gianluca Ferruggia, general manager of DesignRush. “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.”
Rounding out the top 10 were Hawaii in fourth (8.6 percent increase), Tennessee in fifth (8 percent), Idaho sixth (7.9 percent), South Carolina seventh (7.7 percent), Mississippi eighth (7.4 percent), North Carolina ninth (7.2 percent), and Arizona in 10th (6.8 percent).
For more information, visit designrush.com.