According to a study from MRPeasy, Nevada has the best ratio of businesses opening to closing, at 1.3 openings for every closure, making it the top state for small businesses.
Mike Lurye, director of business development at MRPeasy, remarked that analyzing the rates of small business openings and closures provides insight into economic trends and growth.
The study used data from the U.S. Small Business Administration to rank states based on their rates of small business openings and closures, defining small businesses as those with fewer than 500 employees.
Small businesses are crucial to the U.S. economy, employing over 60 million Americans; however, 65% of them are expected to fail within the first decade.
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