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Here’s How Many New Business Applications Georgia Received in 2021

Small businesses are an economic pillar in the United States. Businesses with fewer than 500 employees account for two-thirds of net new jobs in the U.S. and generate 44% of economic activity nationwide, according to the U.S. Small Business Administration.

Though small businesses in the U.S. were hit hard by the COVID-19 pandemic, with an estimated one-third closing either temporarily or permanently since early 2020, American entrepreneurs appear undeterred.

From January 2021 through January 2022, over 5.8 million applications for new businesses were filed, according to Business Formation Statistics from the U.S Census Bureau – or 1,772 for every 100,000 Americans.

Georgia accounted for 349,426 of all new business applications filed nationwide over the same period, the fourth most among states. Adjusting for population, however, there were 3,291 applications for every 100,000 people in Georgia, higher than the national average and the third highest among states.

Georgia saw the most applications submitted in April 2021, at 32,981, while December 2021 marked a low point over the period with just 22,354 new business applications. It is important to note that not all new business applications result in the creation of a new business, and only about 80% of new businesses last for more than a year.

RankStateNew business applications per 100,000 peopleTotal new business applications, Jan. 2021-Jan. 2022
1Wyoming6,39537,014
2Delaware4,97348,427
3Georgia3,291349,426
4Florida3,183683,680
5Nevada2,38473,430
6Mississippi2,34769,856
7Louisiana2,308107,292
8Utah2,13968,579
9Colorado2,098120,830
10Maryland2,050123,921
11South Carolina2,016103,781
12New Jersey1,998177,506
13Montana1,94220,761
14Texas1,850536,301
15North Carolina1,785187,229
16Idaho1,73230,952
17New York1,730336,510
18Arizona1,693123,245
19Illinois1,686213,601
20Virginia1,658141,514
21Alabama1,65381,071
22Michigan1,627162,478
23Oklahoma1,57662,351
24Tennessee1,488101,631
25Missouri1,48891,326
26Arkansas1,48144,695
27Hawaii1,47220,839
28Connecticut1,43751,217
29Ohio1,428166,938
30California1,425563,102
31Indiana1,39393,786
32Pennsylvania1,335170,934
33Washington1,321100,567
34Vermont1,3048,138
35Oregon1,27853,900
36New Mexico1,27426,721
37Minnesota1,24270,033
38South Dakota1,24010,972
39Wisconsin1,20970,392
40Alaska1,2068,826
41Massachusetts1,19081,991
42Rhode Island1,16512,341
43Kentucky1,14551,151
44Kansas1,13933,173
45North Dakota1,1328,626
46New Hampshire1,09414,876
47Maine1,08814,626
48Nebraska1,07820,855
49Iowa1,01832,131
50West Virginia80514,435

By: Samuel Stebbins, 24/7 Wall St. via The Center Square

The Georgia Virtue
Written By

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