Rhode Island · Economy & Workforce
New Business Entry Rate in Rhode Island
Share of all business establishments in the state that opened in the past year, measuring the pace of new business formation.
9.3% in 2023
#35 of 50 · Bottom tier (higher is better)
Rhode Island is worse than the 50-state median (9.9%). That's a gap of 0.6%.
View interactive chart & trend → See full 50-state ranking →
1978 – 2023 · Rhode Island only · interactive chart with US median overlay →
About new business entry rate
What this measures: Share of business establishments in the state that opened in the past year.
Why it matters: Entry rate is the pulse of new business formation, which drives most net job creation over time.
Watch out: Covers employer businesses only. Sole proprietors and gig workers are not counted.
Recent trend
| Year | Rhode Island | US median |
|---|---|---|
| 2014 | 8.8% | 9.1% |
| 2015 | 9.2% | 9.2% |
| 2016 | 10% | 9.5% |
| 2017 | 8.1% | 8.8% |
| 2018 | 8.3% | 8.4% |
| 2019 | 8.8% | 8.8% |
| 2020 | 8.4% | 8.7% |
| 2021 | 9.2% | 9.9% |
| 2022 | 12% | 11% |
| 2023 | 9.3% | 9.9% |
Rhode Island vs. neighboring states
Same metric (new business entry rate), latest year with full state coverage. Click any name for that state's full report.
| State | New Business Entry Rate | National rank |
|---|---|---|
| Connecticut | 8.8% | #47 of 50 |
| Massachusetts | 9.6% | #29 of 50 |
How Rhode Island compares (2023)
Bottom 5
| #46 | New Hampshire | 8.8% |
| #47 | Connecticut | 8.8% |
| #48 | Ohio | 8.7% |
| #49 | Iowa | 8.6% |
| #50 | Pennsylvania | 8.3% |
Source and methodology
Source: Census Business Dynamics Statistics · Direction: higher is better · Unit: %
Download raw CSV (all 50 states, all years)