States where small businesses have the highest rates of survival

Interesting slide shows about the world Slideshow World by [ArcaMax](?ezine=782&lctg=D0FtUlX0YdOUrV9rVUEubuoU613BSpv3i_Gtw9CQCJY&r=3Nq_VBIQjpjxRQFUJLPIrKHELiYQ2MJfd0XQ-wQ7YpdDOjMyNzAwODM2NDpKOjIyMDIwNzU6TDo3ODI6Ujo0NTA4NTc6VjoxOTI) [States where small businesses have the highest rates of survival]( Aine Givens [ States where small businesses have the highest rates of survival ]( [See full slideshow »]( If you're thinking of starting a business, you might want to give some consideration to location. In which state would you have the best chance of success? Iowa tops the list, followed by Wisconsin, South Dakota, Kentucky, and Minnesota. And the worst? The state of Washington. The vast majority of small businesses survive the first 12 months—about 80%, according to the Small Business Administration and other agencies. But once they pass the one-year mark, the picture starts to change. By the fifth year, about half are still operating; by the 10-year mark, only a third remain. Using data from theBureau of Labor Statistics, altLINE explored state-by-state business survival rates over the past decade. The data looks at private sector establishment survival rates in March 2022 among those that opened in the year ending March 2012. Entrepreneurs must know who their competition is, how to price what they're selling, identify demand for their goods or services, and have enough capital to thrive, whether from a loan, investors, sales, or other income. Post-pandemic adjustments to the supply chain, labor supply, and work-from-home arrangements have changed the economic landscape. Even so, business survival rates have stayed consistent over time. Despite the economic upheaval, approximately 4 in 5 businesses founded in 2021 survived their first year, according to BLS data. That statistic jibes with data going back to 1994, showing one-year survival rates ranging from about 75% to 85%. Among the household names of the survivors from that year are Amazon and Dreamworks Pictures. What business types have the best chance of surviving? Manufacturing ranks #1, followed by health care and social assistance, educational services, finance and insurance, and real estate, rental, and leasing. Visit thestacker.com for similar lists and stories. [Tweet It]( - [Facebook It]( Sponsor More Slideshow World from ArcaMax.com - [5 unexpected costs when starting your own business]( - [10 Google Sheets hacks that will make your job easier]( - [Traveling nurses can make $200K a year--here's how the field changed during the pandemic]( - [A timeline of the Vietnam War]( [Click To Unsubscribe]( | [Customer Service]( | [Privacy Policy]( | [California / Nevada Privacy Info]( 1706 Todds Lane, Box 311, Hampton, VA 23666 Copyright © 2023 ArcaMax Publishing [Facebook]( [Twitter](/ArcaMax)