The number of new business applications nationwide is up, and New York State is in the top third of new enrollments. The World Economic Forum recently released a state-by-state breakdown of new business applications across the country, showing New York State to be 17th in application submissions throughout 2022. A total of 299,100 applications were filed last year, a 30% bump from the last time the data was tracked in 2019.
Across the country, more than five million new business applications were filed during the same period.
The U.S. Chamber of Commerce recently created a deep dive into the data and found that Kings County (53,588) had the highest number of new business applications in any region of New York State.
Of the 300,000 new business applications in New York State, 8% are expected to become employer businesses.
"Entrepreneurs solve problems, and when America experienced huge problems in a concentrated time frame during the COVID-19 pandemic, entrepreneurs rose to the occasion," the U.S. Chamber wrote on their data summary page. "New economic needs and changing consumer preferences created more circumstances for new businesses to start."