476320
New Business Formations
-4%
Month over Month Change
14%
Year over Year Change
|
Location
|
New Businesses
|
New Businesses
|
% Change
|
New Businesses
|
% Change
|
12 Month Avg.
|
|---|---|---|---|---|---|---|
| Alabama | 3571 | 3825 | -7% | 3140 | 14% | 3544 |
| Alaska | 959 | 1031 | -7% | 902 | 6% | 990 |
| Arizona | 11054 | 10568 | 5% | 10053 | 10% | 10076 |
| Arkansas | 3267 | 3264 | 0% | 3048 | 7% | 3007 |
| California | 37778 | 38176 | -1% | 32619 | 16% | 36328 |
| Colorado | 17666 | 15894 | 11% | 13137 | 33% | 14609 |
| Connecticut | 4389 | 4838 | -9% | 3916 | 12% | 4,430 |
| District of Columbia | 1429 | 1609 | -11% | 1279 | 12% | 1,405 |
| Delaware | 27232 | 26972 | 1% | 23101 | 18% | 25,213 |
| Florida | 56720 | 58550 | -3% | 52153 | 9% | 53,271 |
| Georgia | 19793 | 20013 | -1% | 17607 | 12% | 19,371 |
| Hawaii | 2151 | 2162 | -1% | 1945 | 11% | 2,023 |
| Idaho | 3668 | 3704 | -1% | 2970 | 24% | 3,423 |
| Illinois | 12853 | 14161 | -9% | 11813 | 9% | 12,858 |
| Indiana | 7487 | 7762 | -4% | 6811 | 10% | 7,676 |
| Iowa | 3301 | 3310 | 0% | 3548 | -7% | 3,179 |
| Kansas | 3109 | 3136 | -1% | 2672 | 16% | 2,849 |
| Kentucky | 5911 | 5099 | 16% | 3732 | 58% | 4,580 |
| Louisiana | 5002 | 5217 | -4% | 4698 | 6% | 4,858 |
| Maine | 1113 | 1225 | -9% | 1290 | -14% | 1,348 |
| Maryland | 4601 | 4716 | -2% | 6787 | -32% | 6,213 |
| Massachusetts | 5539 | 6165 | -10% | 5104 | 9% | 5,688 |
| Michigan | 10788 | 13134 | -18% | 10261 | 5% | 11,347 |
| Minnesota | 6452 | 6520 | -1% | 5830 | 11% | 6,359 |
| Mississippi | 4445 | 4060 | 9% | 3542 | 25% | 3,958 |
| Missouri | 8628 | 8998 | -4% | 7646 | 13% | 8,198 |
| Montana | 5239 | 5434 | -4% | 4262 | 23% | 4,598 |
| Nebraska | 1817 | 2067 | -12% | 1669 | 9% | 1,829 |
| Nevada | 5178 | 5380 | -4% | 4840 | 7% | 5,203 |
| New Hampshire | 606 | 656 | -8% | 1670 | -64% | 1,181 |
| New Jersey | 14006 | 14874 | -6% | 12424 | 13% | 13,603 |
| New Mexico | 4670 | 4602 | 1% | 3264 | 43% | 3,815 |
| New York | 21055 | 22906 | -8% | 19473 | 8% | 21,462 |
| North Carolina | 14701 | 17144 | -14% | 12557 | 17% | 13,464 |
| North Dakota | 1063 | 1297 | -18% | 601 | 77% | 912 |
| Ohio | 12944 | 13692 | -5% | 11027 | 17% | 12,678 |
| Oklahoma | 5131 | 5120 | 0% | 3439 | 49% | 4,667 |
| Oregon | 5267 | 5820 | -10% | 4651 | 13% | 5,337 |
| Pennsylvania | 12148 | 12682 | -4% | 10282 | 18% | 11,614 |
| Rhode Island | 1203 | 1261 | -5% | 966 | 25% | 1,131 |
| South Carolina | 7622 | 8383 | -9% | 6707 | 14% | 7,506 |
| South Dakota | 1311 | 1446 | -9% | 881 | 49% | 1,237 |
| Tennessee | 6473 | 6717 | -4% | 5831 | 11% | 6,432 |
| Texas | 37193 | 39197 | -5% | 32064 | 16% | 36,150 |
| Utah | 6971 | 3216 | 11% | 5359 | -50% | 4,437 |
| Vermont | 950 | 1031 | -8% | 864 | 10% | 856 |
| Virginia | 11224 | 11966 | -6% | 9659 | 16% | 10,775 |
| Washington | 8329 | 9790 | -15% | 8434 | -1% | 9,477 |
| West Virginia | 1587 | 1661 | -4% | 1338 | 19% | 1,528 |
| Wisconsin | 5451 | 5781 | -6% | 4808 | 13% | 5,241 |
| Wyoming | 19567 | 18944 | 3% | 12544 | 56% | 15,621 |
June Business Health Analysis
-5%
Month over Month Change
476,320
New US Business Formations
14%
Year over Year Change
Key Takeaways
- Business formations were up 14% nationwide compared to June of last year.
- Wyoming, North Dakota, and Kentucky each more than doubled business formations compared to this time last year.
- California, Colorado, Texas, Delaware, and Florida also saw significant growth.
- Business formation data is drawn from state-level filings, cross-referenced against U.S. Census Bureau data.
- In interviews with our clients, business owners reported feeling optimistic about the health of their businesses.
Business formation data is drawn from state-level filings, cross-referenced against U.S. Census Bureau data. Learn more.
Typical Summer Slowdown, Atypical Numbers
Business formations tend to dip in the summer, and this year is no different. New business formations nationwide continued to decline, this month by 4%. However, while formations are following an established trend, they’re doing so at a much higher rate than last year. U.S. business formations are up 14% compared to this time last year.
WY, ND, and KY More Than Double Formations
In Wyoming, new business formations more than doubled compared to this time last year (56%), continuing an upward trend. No doubt privacy protections and a business-friendly regulatory environment continue to encourage people to form entities in the Cowboy State.
But what is driving growth in Kentucky (up 58%) and North Dakota (up 77%) is less clear. Earlier this year, Trump signed executive orders lifting regulatory burdens on both coal mining and drilling. Are entrepreneurs laying the groundwork for a boom in extractive industries?
Colorado Sends Mixed Signals
California, Texas, Florida, Delaware, and Colorado all continued to show strong growth. Of these typically high-volume states, Colorado showed the biggest jump at 34%. This comes despite the latest University of Colorado’s Leeds Business Confidence Index indicating that confidence remains low among business owners in Colorado. While it can be tough to reconcile a 34% jump in formations with low confidence, one theory is that Coloradans are starting side ventures to supplement income as they feel the financial pressure caused by tariffs and inflation.
Business Owners Feel Confident
Business owners we spoke with continued to report a sunny outlook on their business outcomes, with 72% reporting feeling “very optimistic” about the coming year. Most (71%) say they have not delayed any major decisions due to economic uncertainty, and 92% of business owners say the overall health of their business is the same (50%) or stronger (42%) than last year.
Please note that these insights are based on available data, which may be updated as more complete numbers become available.