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Minnesota ranks first in the nation in its five-year business survival rate (2015-2020), based on data from the U.S. Bureau of Labor Statistics. The state’s rate was 55.3%. In comparison, the national rate for the same period was 50.0%.  “This ranking confirms something we know to be true – people who start things in Minnesota tend to stick to it. It’s part of that Minnesota work ethic that we’re known for,” said DEED Commissioner Steve Grove. “This ranking bodes well for our economy, as we know that small businesses account for 47% of the jobs in the state.”   A recent study by MIT showed that new businesses are responsible for nearly all net new jobs and 20% of gross job creation in our economy – so encouraging new businesses is vital to our future economy. 

United statesSmall business development centersSmall business assistance officeUs bureau of labor statisticsEntrepreneur loan programMinnesota department of employmentEconomic developmentBusiness development managersMinnesota departmentProvides innovationEmerging entrepreneur loanDevelopment managersStrategy consultantsஒன்றுபட்டது மாநிலங்களில்சிறிய வணிக வளர்ச்சி மையங்கள்சிறிய வணிக உதவி அலுவலகம்