While January showed a strong start compared to December, business formation is still down 5% from January of last year.

As 2024 wrapped up, business formations ended on a strong note, with December seeing a 3% jump from the previous month, totaling 389,215 new registrations—but year-over-year numbers still took a 5% hit.

Top-performing states like Texas and California remained at the top, thanks to diverse industries and strong infrastructure.