Where Have Business Applications Increased the Most Over the Past 10 Years?

Entrepreneurship is thriving in America. Each year, more than five million new business applications are filed, reinforcing the United States' reputation as "The Land of Opportunity." Despite our differences, there is a rare unity around the value of entrepreneurial ventures. A recent bipartisan survey found that 94% of Americans believe it is crucial to the country's future that citizens have a fair chance to start and grow their own businesses.

While new business growth across states has fluctuated over the years, business applications have steadily increased, particularly since the COVID-19 pandemic. To highlight where the spirit of entrepreneurship is thriving, the team at LLC Attorney analyzed business formation statistics from the past 10 years, as provided by the U.S. Census Bureau. Given the vast and diverse nature of the United States, we examined business applications by state and county to pinpoint today's business meccas. Here are our findings.

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Which State Has the Most New Businesses?

Florida leads the nation in new business applications, with an impressive 631,896 filed in 2024 alone. This surge in business activity can be partially attributed to Florida being the third-most populous state in the U.S., but several other factors also contribute to its business-friendly environment.

Why is Florida good for business? Florida boasts a strong economy and consistently ranks high in state economic assessments. In 2025, the Sunshine State topped CNBC's economic rankings for the third consecutive year and ranked third overall among the best U.S. states for business. Robust job and new-business growth, a talented and dynamic workforce, and easy access to capital all contributed to this strong position. Favorable tax policies also play a key role in creating a welcoming business climate. There is no personal state income tax, highly competitive corporate tax rates, and no payroll taxes. Combined with streamlined registration and regulatory processes, these factors create an ideal environment for starting a business with low operating costs and ample growth potential.

According to the Florida Chamber of Commerce, Florida also leads the nation in business relocations, surpassing Texas by nearly four times. Mark Wilson, the president and CEO of the Florida Chamber of Commerce, attributes this trend to a two-year research program known as Florida 30. He states, "The Florida 2030 Blueprint is working and the ongoing success driven by sound policies, a pro-jobs environment, and the business community's focus on growing Florida to the 10th-largest economy by 2030 are the difference makers."

Which State Has Had the Largest Increase in Business Formations by Year?

Wyoming has experienced the most significant growth in new business formation over the past decade, with an impressive 610.2% increase. According to state business formation data, the number of new businesses rose from 9,728 in 2015 to 59,358 in 2024.

Why do people start businesses in Wyoming? Like Florida, Wyoming offers a highly business-friendly environment, with no corporate, personal, or franchise taxes, along with reasonable regulations and low operating costs, thanks to its minimal property and sales taxes. In fact, Wyoming ranks first overall in the Tax Foundation's 2026 State Tax Competitive Index, making it a top-notch location for earning and retaining profits.

In addition to its favorable tax structure, Wyoming's dedication to privacy and personal asset protection is another key reason it is considered one of the best states for entrepreneurship. Wyoming was the first state to enact Limited Liability Company (LLC) legislation in 1997 and has remained a pioneer in fostering low-cost, high-privacy business formation. Recently, Wyoming surpassed Delaware to become the LLC capital of the country; despite having fewer than 600,000 residents, it is home to over 1.2 million companies and counting.

How LLC Attorney Can Help

At LLC Attorney, we strive to provide aspiring founders with the resources and opportunities they need to start a business, regardless of where they are located in the United States. Establishing an LLC can be an empowering first step toward building a business that is well-positioned to succeed during those challenging early days.

One of the main benefits of an LLC is the protection it offers. While all new business ventures involve some level of risk, limited personal liability can provide peace of mind by safeguarding your personal assets from your business liabilities. Additionally, the tax advantages of an LLC can make a major difference for fledgling businesses. Unlike C corporations, which are typically taxed twice (once at the corporate level and again at the individual level), LLCs can utilize "pass-through" taxation. This allows owners to report business income on their personal tax returns, reducing costs and simplifying paperwork, and enabling entrepreneurs to focus on growing their businesses.

While all U.S. states permit LLC formation, there may be benefits to establishing one outside your home state, such as tax advantages, stronger privacy protections, and more proactive legal representation. We have created this guide to help you determine the best state to form an LLC, should that be the right choice for you. LLC growth by state largely parallels our findings, demonstrating that new business growth is fueled by less red tape.

Where Business Applications Increased the Most Over the Last Decade

STATE LIST

The Increase in Annual Business Applications Over the Past 10 Years in the Most Populous County of Each State

COUNTY LIST

Source:
U.S. Census Business Formation Statistics
https://www.census.gov/econ/bfs/data/county.html