National Entrepreneurship Month is celebrated in November every year, and it’s the perfect time to explore the prime destinations where millennials are channeling their efforts and resources into launching their new enterprises.
Even though only 7% of millennials own a small business in the country, Scholaroo’s Best and Worst States for Millennials 2023 report – the second edition of the study that analyzes the rates of new millennial entrepreneurs – points out that the state of Florida has the largest share of new millennial entrepreneurs, with this generation representing 0.61% of the state’s new entrepreneurs.
New Mexico (#2) and Georgia (#3) follow close behind with an average of 0.51%. While Pennsylvania, Rhode Island, and Minnesota have the lowest rates of new millennial entrepreneurs in the entire country.
TOP 10 STATES WITH THE HIGHEST RATES OF NEW MILLENNIAL ENTREPRENEURS
(Ranked in descendant order, with #1 considered to have the highest rate)
#1 Florida
#2 New Mexico
#3 Georgia
#4 Oklahoma
#5 California
#6 Alaska
#7 Colorado
#8 Maine
#9 Vermont
#10 Wyoming
For the complete Best & Worst States For Millennials 2023 rankings and further methodology, please visit:
https://scholaroo.com/report/best-states-for-millennials/
I’m also happy to provide a further breakdown of state results.
Gabriela Lima, PR Executive
Scholaroo
