Entrepreneurship is a way to achieve financial freedom, but not every state is experiencing the same push to establish new businesses, according to a new report from digital marketing site DesignRush.
Some states saw significant changes in the number of businesses from September 2022 to September 2023, DesignRush reported.
Based on the growth in new businesses recorded from the U.S. Bureau of Labor Statistics (BLS), five states stood above the rest, seeing up to a 9.9 percent uptick year-over-year: Oregon, Montana, Michigan, Hawaii and Tennessee.
Oregon saw the number of businesses climb by 9.9 percent, reporting a total of 185,096 businesses in 2022 and then 203,369 in 2023.
Montana, which saw the second spot, recorded a 9.4 percent boost in new businesses, bringing its total to 66,947 in 2023.
Michigan also maintained a business-friendly environment,as it saw a 8.9 percent increase, growing by 26,612 businesses year over year. Meanwhile, Hawaii residents saw a close 8.6 percent uptick in new businesses, …