Small business is on the rise. In 2021, there were 5.4 million applications to start a new business in the United States alone, the highest since the U.S. Census started tracking this data in 2004, and last year there were 5 million applications.
E-commerce company Shopify partnered with Deloitte to create a database that measures the top countries and U.S. states where entrepreneurship is flourishing. To calculate this, they measured the impact of entrepreneurs on GDP, jobs supported, exports, and business activity. According to the index, the top 10 countries where entrepreneurship is thriving are:
- United States
- Lithuania
- Romania
- United Kingdom
- Czech Republic
- Australia
- Denmark
- China
- Hong Kong
- Japan
The top 10 states are:
- Delaware
- Wyoming
- California
- Montana
- Utah
- Nevada
- Alabama
- Florida
- Idaho
- Hawaii
You can check out the first-ever Shopify Entrepreneurship Index here.