As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies. Learn more about membership...
Useful Stats: State Business Churning Statistics, 2004
Using data from the Small Business Administration’s Office of Advocacy, SSTI has prepared a table presenting business churning statistics and rankings for all 50 states and the District of Columbia for 2004. Business churning, a measure of new firm births and existing firm deaths as a share of total firms (small businesses with employees), is seen as a major driver of innovation and growth. Churning increases as the number of new start-ups and existing business failures per year increase.
There were an estimated 899,688 new business start-ups and 930,452 business terminations throughout the U.S. in 2004, resulting in a national business churning average of 26.10 percent - up 6.3 percent from 2003. Washington saw the largest churning rate at 40.57 percent, followed by Nevada (39.62 percent), Utah (38.89 percent), New Jersey (33.99 percent) and Idaho (31.92 percent).
South Dakota, on the other hand, experienced the national low in churning at 17.17 percent. Louisiana (20.85 percent), Kansas (20.85 percent), Iowa (19.73 percent) and Ohio (19.38 percent) round off the final five.
SSTI’s table is available at: http://www.ssti.org/Digest/Tables/041006t.htm
Additional SSTI tables are available at:
- State Business Churning Figures for 1998-2001: http://www.ssti.org/Digest/Tables/022103t.htm
- State Business Churning Figures for 2002-2003: http://www.ssti.org/Digest/Tables/081604t.htm