According to a study by Eton Venture Services, Rhode Island has the fourth lowest number of business applications in the United States. PBN Photo/William Hamilton
Recent research suggests that Rhode Island lags behind most other states in supporting entrepreneurs.
Eaton Venture Services ranked Rhode Island as having the fourth lowest number of new business applications per capita, based on U.S. Census Bureau data for 2022, the most recent year available.
The study called Rhode Island an “entrepreneur desert,” with 994 applications per 100,000 residents that year. By comparison, West Virginia ranked lowest with 776 applications per 100,000 residents, and Wyoming ranked highest with 7,149 applications per 100,000 residents.
A spokesperson for the RI Commerce Corporation disputed suggestions that the state has been slow to support new businesses.
“Rhode Island is not far behind,” said Commerce Department spokesman Matthew Tuett.
He argues that the state has made progress in becoming more entrepreneur-friendly, with recent moves to lower property taxes and trash taxes.
Massachusetts had the sixth lowest number of new business applications per 100,000 residents. Connecticut ranked 21st.
