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New business numbers in Alabama remained steady in 2023
If you are looking to start a new business, is Alabama the right state for you? Well, in the last several years, the number of new businesses started here in the state has either increased or remained steady each year.
In 2023, the state saw 71,835 new business license applications, which was slightly more than the number of applications in 2022. So what does this mean for Alabama’s start-up culture?
New business in Alabama
According to the U.S. Chamber of Commerce, Alabama ranked 26th in the country in new licences per capita in 2023.
Here’s a look at new businesses in Alabama in 2023 by the numbers:
- New business applications in 2023: 71,835
- 2023 projected business formations within 4 quarters: 4,222
- Percent projected to become an employer business: 5.9%
- Jefferson County had the most business applications with 12,124
- Mobile County had the highest percentage increase in new business applications, at 133%
Where are the new businesses popping up in Alabama?
Mobile’s number of new business applications increased year-over-year from 4,193 to 9,792, making the port city a hotbed for new businesses these days.
The Alabama counties with the most new business applications in 2022 were:
- Jefferson County: 12,124
- Mobile County: 9,792
- Madison County: 6,094
- Montgomery County: 4.677
- Baldwin County: 3,676
- Shelby County: 3,286
- Tuscaloosa County: 3,081
- Lee County 2,226
- Houston County: 1,775
- Calhoun County: 1,213
To see the interactive map of these stats:
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