Special Report

Here's How Many New Business Applications Nebraska Received in 2021

Samuel Stebbins

Published: February 28, 2022 11:23 am

Last Updated: March 2, 2022 7:58 pm

Small businesses are an economic pillar in the United States. Businesses with fewer than 500 employees account for two-thirds of net new jobs in the U.S. and generate 44% of economic activity nationwide, according to the U.S. Small Business Administration.

Though small businesses in the U.S. were hit hard by the COVID-19 pandemic, with an estimated one-third closing either temporarily or permanently since early 2020, American entrepreneurs appear undeterred.

From January 2021 through January 2022, over 5.8 million applications for new businesses were filed, according to Business Formation Statistics from the U.S Census Bureau – or 1,772 for every 100,000 Americans.

Nebraska accounted for 20,855 of all new business applications filed nationwide over the same period, the 11th fewest among states. Adjusting for population, however, there were 1,078 applications for every 100,000 people in Nebraska, lower than the national average and the third lowest among states.

Nebraska saw the most applications submitted in April 2021, at 2,032, while February 2021 marked a low point over the period with just 1,397 new business applications. It is important to note that not all new business applications result in the creation of a new business, and only about 80% of new businesses last for more than a year.