State-by-state analysis from lenders Clarify Capital reveals which states are thriving small businesses.
The collected data explored not only the states that provide optimal conditions for entrepreneurs in 2025, but also specific factors that contribute to why some states are superior to others, such as new business applications, access to funds, and small business density.
Data shows Florida has set a new national record for entrepreneurship, ranking number one in the US with 13,822 small businesses per 100,000 residents.
Important findings:
Florida ranks number one in terms of small and medium-sized businesses, with more small and medium-sized businesses per person than any other state.
• #3 In new business applications per capita, entrepreneurial momentum remains strong
• Overall #3 for SME environment in 2025 based on growth, volume and policy support
•But: Florida is #14 with per capita SBA loan approvals, and entrepreneurs are starting their business earlier than funding
Florida ranks #23 in average SBA loan size, indicating potential gaps in capital at growth stages
Florida continues to create an environment where small businesses can thrive, but the study shows that tax policies in other states limit the growth of small businesses. The other was access to capital.
Florida continues to strengthen its small business economy through laws aimed at reducing bureaucratic burdens, expanding access to capital and supporting entrepreneurs. Florida is also ranked highly thanks to its business environment and rapid proportion of small business organizations.
