Business activity looks different when scale, population, and time are separated.

These profiles combine a common statistical baseline with reporting specific to each state. Applications show where people are filing for employer identification numbers—not where every filing became an operating company.

The comparison changes with the question

Florida led the July count, but Wyoming had the highest trailing-year rate relative to population. Kentucky recorded the fastest trailing-year increase. Those are three different findings: scale, filings per resident, and recent direction.

The national July report explains how retail filings drove the monthly record while employer-oriented measures moved much less.

Wyoming and Delaware require special care. Their exceptionally high filing rates can reflect entity-registration choices as well as business activity by residents. The rates should not be read as startup success or a general ranking of business conditions. The monthly formation explainer defines applications and projected employer formations.

Formation is only one part of the state picture. Montana has the highest small-business employment share, Tennessee has the highest nonemployer share, Nevada has the most concentrated leading-county employment, and Washington recorded the sharpest trailing-year application decline. The national small-business employment benchmark and national employer and nonemployer business count explain those measures.

Download the 50-state baseline (CSV) · Read the calculation policy

50-state comparison · Trailing year

Application intensity and recent growth tell different stories.

The median state recorded 1,588.1 applications per 100,000 residents and +16.1% trailing-year growth. Kentucky grew fastest; Florida had the highest rate among the 48 states shown on the common scale; Washington declined most sharply.

A scatter plot compares 48 states by trailing-year applications per 100,000 residents and change from the preceding 12 months. Wyoming and Delaware appear in a separate registration-sensitive outlier panel. The chart does not imply that filing intensity causes growth.

State business-application rate and trailing-year growth Kentucky has the fastest growth, Florida the highest non-outlier application rate, and Washington the largest decline. Wyoming and Delaware are registration-sensitive rate outliers shown separately. -20% 0% +20% +40% 1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 50-state median rate 1,588.1 50-state median growth +16.1% Florida Kentucky Mississippi Washington Applications per 100,000 residents Change from previous trailing year Rate outliers Shown outside the main scale Wyoming 14,473.3 per 100,000 +20.2% growth Delaware 5,759.3 per 100,000 +3.0% growth Registration-sensitive

Selected findings on small screens

50-state median1,588.1 per 100,000 · +16.1% growth
Kentucky1,656.0 per 100,000+38.5% growth
Florida3,022.5 per 100,000+13.9% growth
Mississippi2,081.6 per 100,000+30.7% growth
Washington1,463.6 per 100,000−19.6% growth
Registration-sensitive rate outliers

Wyoming 14,473.3 per 100,000 · +20.2% growth

Delaware 5,759.3 per 100,000 · +3.0% growth

Unit: Unadjusted trailing-year applications per 100,000 residents and percentage change · Period: August 2025–July 2026 versus August 2024–July 2025

Source: Business Formation Statistics; Vintage 2025 population estimates · BizFacts calculations from the published state baseline; medians and positions use unrounded values.

Wyoming and Delaware are shown separately because entity-registration patterns make resident-population rates unusually difficult to interpret. Applications are not confirmed openings.

Download the 50-state baseline

View the exact values
StateApplications per 100,000Rate rankTrailing-year changeGrowth rank
Alabama1,487.830+24.0%11
Alaska1,723.020+32.3%2
Arizona2,024.811+24.8%10
Arkansas1,450.734+23.9%13
California1,534.529+13.6%33
Colorado2,723.05+18.7%20
Connecticut1,478.032+15.6%26
Delaware5,759.32+3.0%47
Florida3,022.53+13.9%32
Georgia2,457.06+15.3%28
Hawaii1,297.541−0.7%48
Idaho1,795.116+13.6%34
Illinois1,559.627+14.5%31
Indiana1,409.237+12.0%42
Iowa1,165.147+15.2%29
Kansas1,437.835+30.5%5
Kentucky1,656.023+38.5%1
Louisiana1,766.018+22.4%16
Maine1,064.249+5.6%46
Maryland1,732.019+12.7%40
Massachusetts1,186.746+12.0%41
Michigan1,652.024+24.0%12
Minnesota1,314.840+13.1%38
Mississippi2,081.69+30.7%4
Missouri1,838.313+32.1%3
Montana2,817.64+15.5%27
Nebraska1,202.245+17.2%24
Nevada2,103.38+9.8%45
New Hampshire1,391.338+23.1%14
New Jersey1,813.615+11.9%43
New Mexico2,055.910+21.2%17
New York1,604.325+10.6%44
North Carolina1,770.417+20.2%18
North Dakota1,212.344+13.3%36
Ohio1,545.328+22.7%15
Oklahoma1,679.121+28.6%6
Oregon1,485.831−3.4%49
Pennsylvania1,283.143+13.1%37
Rhode Island1,129.848+13.0%39
South Carolina1,838.314+18.3%23
South Dakota1,413.936+14.9%30
Tennessee1,571.926+25.6%9
Texas1,852.612+18.3%21
Utah2,357.87+27.7%8
Vermont1,288.042+13.4%35
Virginia1,679.022+16.7%25
Washington1,463.633−19.6%50
West Virginia1,037.750+18.3%22
Wisconsin1,331.439+27.8%7
Wyoming14,473.31+20.2%19

Growth was fastest in the Midwest; filing rates remained higher in the South and West.

RegionTrailing-year applicationsChange from prior yearPer 100,000 residents
Northeast856,679+12.0%1,476.0
Midwest1,046,999+20.4%1,500.8
South2,737,960+17.9%2,056.4
West1,483,972+11.8%1,851.6

BizFacts calculations use unadjusted state applications from August 2025 through July 2026 and Census Vintage 2025 population estimates. Regional totals use the Census four-region grouping.

Research for every state