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Vermont Ranked #9 Among Smaller States for Start-up activity

Monday, May 22, 2017   (0 Comments)
Posted by: Jeff Couture

 

The Kauffman Foundation has ranked Vermont number 9 among the 25 smaller U.S. states  in its annual index of start-up activity.  The state moved up from the 13th spot in 2016.

The Kauffman Startup Index looks at activity in all 50 states and the 40 largest U.S. metropolitan areas.

Among the largest states, these five had the highest startup activity in 2017: California, Texas, Florida, Arizona and Colorado.

Among the 25 smaller states, these five had the highest startup activity in 2017: Oklahoma, Wyoming, Alaska, Montana and Nevada.

The five metropolitan areas with the highest startup activity were, in order: Miami, Austin, Los Angeles, San Diego and Las Vegas.

The Kauffman Index of Startup Activity relies on three indicators to evaluate new business creation:

The Rate of New Entrepreneurs in the economy, calculated as the percentage of adults becoming entrepreneurs in a given month

The Opportunity Share of New Entrepreneurs, calculated as the percentage of new entrepreneurs driven primarily by opportunity vs. necessity

Startup Density, the number of new employer businesses divided by the total population of existing employer businesses.

Other findings:

Business startup activity moved slightly upward in 2016, but startup activity remains in a long-term decline when compared to activity levels in the 1980s.

The share of new entrepreneurs who started businesses to pursue opportunity rather than from necessity reached 86.3 percent, more than 12 percentage points higher than in 2009 at the height of the Great Recession.

First-generation immigrants now make up nearly 30 percent of all new U.S. entrepreneurs. The percentage of immigrant entrepreneurs reached its highest level for just the second time in 20 years, climbing steadily from 13.3 percent in 1996.

The rate of new entrepreneurs decreased in 2016 to 0.31 percent, or 310 out of every 100,000 adults starting new businesses each month.

Read more here.


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