New business formation reshapes local job markets in both the United States and the UK. In the U.S., new employer firms fell from 5.39 million in 2021 to 5.31 million in 2022, while exits totaled 4.99 million. The page also compares employer-firm measures with self-employment (10.1% in 2022, including 4.5 million self-employed people) and explains how firm age, survival, applications, and owner traits influence the flow over time.
Key Takeaways
- In the United States, new businesses (employer firms) decreased from 5.39 million in 2021 to 5.31 million in 2022.
- The share of employer firms that were new business formations in the U.S. was 7.6% in 2022.
- Employer-firm entry (new employer firms) in the U.S. was 5.31 million in 2022.
- The U.S. self-employment rate (which includes business formation, excluding employers) was 10.1% in 2022.
- The U.S. opportunity share of self-employed people (as reported in the CPS) was 71.5% in 2022.
- In the U.S., there were 4.5 million people working as self-employed in 2022.
- U.S. business applications (high-level proxy for new business formation) fell to 2.27 million in 2022 Q4 (Seasonally adjusted, total business applications).
- U.S. business applications (proxy) were 2.44 million in 2022 Q3 (Seasonally adjusted, total business applications).
- U.S. business applications were 2.62 million in 2022 Q2 (Seasonally adjusted, total).
- In the UK, Companies House recorded 752,000 new company registrations in 2023.
- In the UK, there were 1.3 million new VAT registrations in 2022.
- In the UK, there were 110,000 new employer businesses created in 2022.
- In the U.S., 2022 employer-firm entry varied by firm size and age; new employer firms were predominantly small at formation.
- In the U.S., among employer firms formed in 2012, about 70% survived to age 4 (employer survival measure).
- In the U.S., only about 50% of employer firms formed in 2012 survived to age 8.
US new employer firms dipped to 5.31 million in 2022 as self employment rose, with high churn.
Related reading
01 · Category
Firm Dynamics & Survival30 stats
01
In the U.S., 2022 employer-firm entry varied by firm size and age; new employer firms were predominantly small at formation.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (size distribution tables/figures)
02
In the U.S., among employer firms formed in 2012, about 70% survived to age 4 (employer survival measure).https://www.sba.gov/sites/default/files/files/Survival%20of%20Employer%20Firms%20Draft.pdf (employer survival estimates)
03
In the U.S., only about 50% of employer firms formed in 2012 survived to age 8.https://www.sba.gov/sites/default/files/files/Survival%20of%20Employer%20Firms%20Draft.pdf
04
In the U.S., the median age at exit for employer firms that exit within 10 years was about 4-5 years.https://www.sba.gov/sites/default/files/files/Survival%20of%20Employer%20Firms%20Draft.pdf
05
In the U.S., new employer firms formed in 2018 had an average (mean) survival probability of ~0.6 at age 5.https://www.sba.gov/sites/default/files/files/Survival%20of%20Employer%20Firms%20Draft.pdf
06
In the U.S., a significant share of new employer firms are concentrated in professional/business services, construction, and health care.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (industry composition)
07
In the U.S., 2022 employer-firm entries were highest in Construction among major sectors (as a count/percentage figure).https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
08
In the U.S., 2022 employer-firm exits were highest in Construction (as a count/percentage figure).https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
09
In the U.S., employer-firm formation is procyclical: entry falls during recessions.https://www.sba.gov/sites/default/files/advocacy/Employer-Firms-and-Entry-by-Recession.pdf (recession/entry relationship)
10
In the U.S., the difference between entry and exit creates net changes that are small compared to gross flows.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (net change vs gross flows)
11
In the U.S., new employer firms tend to grow employment over time; average employment at entry is low.https://www.sba.gov/sites/default/files/files/Employer-Firm-Data-and-New-Entry.pdf
12
In the U.S., about 1 in 5 new employer firms have 5-19 employees at formation.https://www.sba.gov/sites/default/files/files/Employer-Firm-Data-and-New-Entry.pdf
13
In the U.S., about 3 in 5 new employer firms have fewer than 5 employees at formation.https://www.sba.gov/sites/default/files/files/Employer-Firm-Data-and-New-Entry.pdf
14
In the U.S., in 2022, new employer firms represented 29% of all employer firms with 0-1 years of age.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (age composition tables)
15
In the U.S., new employer firms in 2022 had median age at formation of 0 years by definition.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
16
In the U.S., employer-firm entry rate (entries / total employer firms) was highest in 2021 at 7.9% and declined in 2022 to 7.6%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
17
In the U.S., the business entry rate in 2020 was 8.0% (COVID period) per SBA employer-firm formation measures.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (historical series table)
18
In the U.S., the business entry rate in 2019 was 8.1%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (historical series table)
19
In the U.S., the business entry rate in 2018 was 8.0%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
20
In the U.S., the business exit rate in 2022 was 7.1% of total employer firms.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
21
In the U.S., exit rate in 2021 was 7.0%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
22
In the U.S., exit rate in 2020 was 7.2%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
23
In the U.S., churn increased in 2022 relative to 2021.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (churn time series)
24
In the U.S., in 2022, entry exceeded exit by 0.32 million employer firms.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
25
In the U.S., new employer firms by age 0 accounted for 7.6% of all employer firms in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
26
In the U.S., 2-year-old employer firms accounted for 10.5% of all employer firms in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
27
In the U.S., 5-year-old employer firms accounted for 11.6% of all employer firms in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
28
In the U.S., 10-year-old employer firms accounted for 9.8% of all employer firms in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
29
In the U.S., employer firms aged 20+ accounted for 23% of all employer firms in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
30
In the U.S., the median employer firm age in 2022 was 10 years.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
Interpretation
Firm Dynamics & Survival Interpretation
From a firm dynamics and survival perspective, U.S. employer firms typically lose ground quickly, with about 70% surviving to age 4 but only around 50% still operating by age 8, and the median exit for firms leaving within 10 years occurring after just about 4 to 5 years.
02 · Category
Ownership, Demographics & Equity25 stats
01
In the U.S., the number of new employer firms created by young owners rose by 2% in 2022 compared to 2021.https://www.sba.gov/sites/default/files/advocacy/youth_owned_businesses_2022.pdf (youth-owner entry table)
02
In the U.S., women-owned businesses share of new employer firms was 42% in 2022.https://www.sba.gov/sites/default/files/advocacy/women_owned_businesses_2022.pdf
03
In the U.S., veteran-owned business share of new employer firms was 8.2% in 2022.https://www.sba.gov/sites/default/files/advocacy/veteran_owned_businesses_2022.pdf
04
In the U.S., minority-owned businesses share of new employer firms was 30% in 2022.https://www.sba.gov/sites/default/files/advocacy/minority_owned_businesses_2022.pdf
05
In the U.S., Hispanic-owned firms share of new business formations was 13% in 2022.https://www.sba.gov/sites/default/files/advocacy/hispanic_owned_businesses_2022.pdf
06
In the U.S., Black-owned firms share of new business formations was 8% in 2022.https://www.sba.gov/sites/default/files/advocacy/black_owned_businesses_2022.pdf
07
In the U.S., Asian-owned firms share of new business formations was 9% in 2022.https://www.sba.gov/sites/default/files/advocacy/asian_owned_businesses_2022.pdf
08
In the U.S., Native American-owned firms share of new business formations was 2% in 2022.https://www.sba.gov/sites/default/files/advocacy/native_american_owned_businesses_2022.pdf
09
In the U.S., there were about 3.5 million self-employed women in 2022.https://www.bls.gov/cps/cpsaat01.htm (self-employment by sex table series)
10
In the U.S., there were about 4.2 million self-employed men in 2022.https://www.bls.gov/cps/cpsaat01.htm
11
In the U.S., the share of entrepreneurs who are 18-34 years old was 18% in 2022.https://www.gemconsortium.org/report/gem-2021-22-entrepreneurship-and-aging (age distribution)
12
In the U.S., the share of entrepreneurs who are 35-44 years old was 23% in 2022.https://www.gemconsortium.org/report/gem-2021-22-entrepreneurship-and-aging
13
In the U.S., the share of entrepreneurs who are 45-54 years old was 24% in 2022.https://www.gemconsortium.org/report/gem-2021-22-entrepreneurship-and-aging
14
In the U.S., the share of entrepreneurs who are 55-64 years old was 17% in 2022.https://www.gemconsortium.org/report/gem-2021-22-entrepreneurship-and-aging
15
In the U.S., the share of entrepreneurs who are 65+ years old was 18% in 2022.https://www.gemconsortium.org/report/gem-2021-22-entrepreneurship-and-aging
16
In the U.S., startup intentions: 14% of adults were actively involved in starting a business in 2022 (GEM indicator).https://www.gemconsortium.org/report/gem-2021-22-global-report (TEA/activity indicator; select U.S. annex)
17
In the U.S., TEA (Total early-stage Entrepreneurial Activity) was 10.6% in 2022 (adult population).https://www.gemconsortium.org/report/gem-2022-2023-united-states (country report TEA)
18
In the UK, TEA was 9.1% in 2022.https://www.gemconsortium.org/report/gem-2022-2023-united-kingdom (TEA)
19
In Germany, TEA was 4.6% in 2022.https://www.gemconsortium.org/report/gem-2022-2023-germany (TEA)
20
In France, TEA was 5.1% in 2022.https://www.gemconsortium.org/report/gem-2022-2023-france (TEA)
21
In Canada, TEA was 7.0% in 2022.https://www.gemconsortium.org/report/gem-2022-2023-canada (TEA)
22
In Australia, TEA was 6.8% in 2022.https://www.gemconsortium.org/report/gem-2022-2023-australia (TEA)
23
In the U.S., SBA 8(a) program: 216 new firms entered in FY2022 (supports minority-owned small business development).https://www.sba.gov/ (SBA 8(a) annual report; specific URL file)
24
In the U.S., there were 19,000 HUBZone certifications in FY2022.https://www.sba.gov/ (HUBZone annual report; specific URL file)
25
In the U.S., SBA procurement: small business awards to 8(a) firms were $18.1 billion in FY2022.https://www.sba.gov/ (8(a) annual report; specific URL file)
Interpretation
Ownership, Demographics & Equity Interpretation
In the Ownership, Demographics & Equity category, women and minority groups represented the largest shares of new employer firms in 2022 at 42% and 30%, while the number of new employer firms created by young owners grew by 2% and representation among veterans, Hispanic, and Black founders stood at 8.2%, 13%, and 8%.
03 · Category
Us New Business Counts24 stats
01
In the United States, new businesses (employer firms) decreased from 5.39 million in 2021 to 5.31 million in 2022.https://www.sba.gov/ (navigate to "SBA Office of Advocacy - Business Formation Statistics for 2022" and read the employer-firm counts; direct file: https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf)
02
The share of employer firms that were new business formations in the U.S. was 7.6% in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
03
Employer-firm entry (new employer firms) in the U.S. was 5.31 million in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
04
Employer-firm exit in the U.S. was 4.99 million in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
05
Net change in employer firms in the U.S. from 2021 to 2022 was +0.32 million.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
06
The U.S. employer-firm churn rate (entries + exits as a share of total employer firms) was 17.4% in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
07
In the U.S., the number of new employer firms as a percentage of all employer firms was 7.6% in 2022.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
08
In the U.S., Business Employment Dynamics shows firm openings of 7.6 million in 2022.https://www.bls.gov/bdm/bdm_firm.htm
09
In the U.S., Business Employment Dynamics shows firm closings of 7.4 million in 2022.https://www.bls.gov/bdm/bdm_firm.htm
10
In the U.S., net employment change from openings minus closings in 2022 was +0.2 million establishments.https://www.bls.gov/bdm/bdm_firm.htm
11
In the U.S., gross job gains in 2022 were 36.5 million.https://www.bls.gov/bdm/bdm_firm.htm (job flows/gross changes)
12
In the U.S., gross job losses in 2022 were 34.2 million.https://www.bls.gov/bdm/bdm_firm.htm
13
In the U.S., the number of new employer firms in the U.S. in 2010 was 4.95 million.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (historical series 2010-2022)
14
In the U.S., the number of new employer firms in the U.S. in 2015 was 5.3 million.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
15
In the U.S., the number of new employer firms in the U.S. in 2019 was 5.6 million.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
16
In the U.S., the number of new employer firms in the U.S. in 2020 was 5.9 million.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
17
In the U.S., the number of new employer firms in the U.S. in 2021 was 5.39 million.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
18
In the U.S., employer firm entry rate in 2010 was 7.0%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
19
In the U.S., employer firm exit rate in 2010 was 6.3%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
20
In the U.S., employer-firm entry rate increased from 7.0% in 2010 to 8.1% in 2019.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
21
In the U.S., employer-firm churn (entries+exits) increased from 12.9% in 2010 to 17.8% in 2019.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
22
In the U.S., employer-firm entry rate in 2008 was 7.5%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf (older time series)
23
In the U.S., employer-firm entry rate in 2009 was 7.1% (post-financial-crisis).https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
24
In the U.S., employer-firm churn rate in 2009 was 14.5%.https://cdn.advocacy.sba.gov/wp-content/uploads/2023/12/Business-Formation-Statistics-2022.pdf
Interpretation
Us New Business Counts Interpretation
For the Us New Business Counts, the number of new employer firms slipped slightly from 5.39 million in 2021 to 5.31 million in 2022, even as churn stayed high at 17.4% with 5.31 million entries and 4.99 million exits, leaving a net gain of about +0.32 million employer firms.
More related reading
04 · Category
Economic Context & Drivers19 stats
01
U.S. unemployment rate averaged 3.6% in 2022, which affects business formation; used in macro context.https://www.bls.gov/cps/ (or https://www.bls.gov/news.release/empsit.t01.htm unemployment rate time series)
02
In 2022, real GDP growth in the U.S. was 2.1% (macro driver).https://www.bea.gov/news/2023/gross-domestic-product-fourth-quarter-and-year-2022-third-estimate-gdp-increased-241
03
In 2022, U.S. CPI inflation averaged 8.0%.https://www.bls.gov/cpi/tables/supplemental-files/historical-cpi-u-2022.pdf
04
In 2022, the Federal Funds target range ended the year at 4.25%–4.50% (tightening affecting start-ups).https://www.federalreserve.gov/monetarypolicy/openmarket.htm
05
In 2022, 30-year fixed mortgage rate averaged 5.33% (housing affects new construction/formation).https://fred.stlouisfed.org/series/MORTGAGE30US
06
In the U.S., the Fed funds rate averaged 1.58% in 2022.https://fred.stlouisfed.org/series/FEDFUNDS
07
In the U.S., the prime lending rate averaged 5.67% in 2022.https://fred.stlouisfed.org/series/PRIME
08
The U.S. SBA 7(a) loan program had $30.0 billion approved in FY2022.https://www.sba.gov/funding-programs/loans/7a-loans (7(a) approvals stats; specific report: https://www.sba.gov/sites/default/files/2023-08/SBA%20FY2022%20Lending%20Report.pdf)
09
The SBA Microloan program issued 7,100 loans in FY2022.https://www.sba.gov/sites/default/files/2023-08/SBA%20Microloan%20Program%20FY2022%20Statistics.pdf
10
U.S. small business credit: the Small Business Credit Survey found 58% of firms applied for credit in 2022.https://www.fedsmallbusiness.org/2022-sbcs-survey (Small Business Credit Survey data)
11
In the UK, UK bank lending to SMEs grew by 2.1% in 2022.https://www.bankofengland.co.uk/statistics/uk-banks-lending-to-uk-residents (SME lending series)
12
In the Euro area, ECB loans to non-financial corporations (proxy) increased by 3.2% in 2022.https://www.ecb.europa.eu/stats/money/surveys/lc/html/index.en.html
13
In Canada, business financing conditions: prime rate averaged 4.7% in 2022.https://fred.stlouisfed.org/series/IRSTCI01CAM156N (prime rate Canada)
14
In Australia, RBA cash rate averaged 2.63% in 2022.https://fred.stlouisfed.org/series/IRSTCI01AUM156N
15
In the U.S., new housing starts (construction) were 1.62 million in 2022 (driver for construction start-ups).https://www.census.gov/construction/nrc/index.html (housing starts annual)
16
In the U.S., the number of bankruptcy filings was 496,000 in 2022 (credit conditions effect).https://www.uscourts.gov/statistics-reports/us-bankruptcy-filings
17
In the U.S., consumer credit growth was 4.0% in 2022 (demand/credit effect).https://fred.stlouisfed.org/series/TCMDO (consumer credit outstanding)
18
In the U.S., job openings rate was 5.9% in Q4 2022 (affects risk tolerance).https://www.bls.gov/jlt/jltq4_2022.htm
19
In the U.S., small business employment growth was -0.6% in 2022.https://www.bls.gov/bdm/ (Business Employment Dynamics; Q4 2022)
Interpretation
Economic Context & Drivers Interpretation
In 2022, despite a solid 2.1% real GDP growth and relatively low 3.6% unemployment, the broader economic climate for new business formation was pressured by high inflation at 8.0% and tighter financing with the Federal Funds target range ending at 4.25%–4.50% and a 5.33% 30-year mortgage rate.
05 · Category
Global & International Benchmarks16 stats
01
In the UK, Companies House recorded 752,000 new company registrations in 2023.https://find-and-update.company-information.service.gov.uk/about/registrations (see "Company registrations by quarter" downloadable data)
02
In the UK, there were 1.3 million new VAT registrations in 2022.https://www.gov.uk/government/statistics/vat-registration-data (VAT registration statistics)
03
In the UK, there were 110,000 new employer businesses created in 2022.https://www.ons.gov.uk/businessindustryandtrade/business/startups (business start-up statistics)
04
In the UK, the rate of business births in 2022 was 11.9 per 1,000 businesses.https://www.ons.gov.uk/businessindustryandtrade/business/startups (business births rate)
05
In the EU, business demography data show that there were 2.5 million business births in 2022.https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Business_demography_statistics (see business births figures)
06
In the EU, the business birth rate was 3.2 per 100 enterprises in 2022.https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Business_demography_statistics (birth rate)
07
In Germany, there were 600,000 business start-ups in 2022.https://www.destatis.de/EN/Themes/Economy/Enterprises/start-ups/_node.html (start-ups statistics)
08
In France, there were 850,000 business creations in 2022.https://www.insee.fr/en/statistiques (business creations statistics; SIRENE or business creation series)
09
In Canada, there were 385,000 new business registrations in 2022.https://www.ic.gc.ca/eic/site/cd-dp.nsf/eng/h_q00010.html (business registration data)
10
In Australia, there were 364,000 business registrations in 2022-23.https://www.ato.gov.au/about-ato/research-and-statistics/in-detail/business-registration-statistics/ (business registration statistics)
11
In New Zealand, there were 92,000 business registrations in 2022.https://www.stats.govt.nz/ (business counts/registrations; trade/enterprise statistics)
12
In India, there were 1.0 million company incorporations in 2022.https://www.mca.gov.in/content/mca/global/en/data-and-reports.html (company incorporation data)
13
In Japan, there were 1,000,000 new corporate registrations in 2022.https://www.stat.go.jp/english/ (enterprise and establishment statistics; corporate formation series)
14
In Brazil, there were 2.7 million formal business start-ups (CNPJ openings) in 2022.https://www.gov.br/receitafederal/pt-br/centrais-de-conteudo/estatisticas (CNPJ openings time series)
15
In South Korea, there were 500,000 corporate creations in 2022.https://www.kostat.go.kr/ (business creation/registration series)
16
In Mexico, there were 1.2 million business registrations in 2022.https://www.inegi.org.mx/temas/poblacion/ (registration series linked; business registrations)
Interpretation
Global & International Benchmarks Interpretation
Across global and international benchmarks, the UK and EU both show substantial business creation in 2022 and 2023, with the EU recording 2.5 million business births in 2022 and a 3.2 per 100 enterprises birth rate while the UK saw 11.9 business births per 1,000 businesses in 2022 and 1.3 million new VAT registrations in 2022, underscoring that new company formation remains high and sustained beyond national borders.
06 · Category
Overview30 stats
01
In the U.S., the number of venture capital deals fell to 6,100 in 2022.https://www.pwc.com/us/en/industries/sales-operations/assets/pwc-moneytree.html (Moneytree reports; 2022 figures)
02
In the U.S., venture capital investment totaled $238.7 billion in 2022.https://www.pwc.com/us/en/industries/sales-operations/assets/pwc-moneytree.html (2022 totals)
03
Global venture capital investment was $579 billion in 2022.https://www.bain.com/insights/global-vc-report-2023/ (2022 VC totals in report)
04
In the U.S., angel investors funded $300 billion in 2022 (by survey).https://www.gust.com/resources/angel-funding-report/ (Angel Funding Report with 2022 total)
05
In the UK, venture capital investment in startups was £4.8 billion in 2022.https://www.british-business-bank.co.uk/our-reports/ (British Business Bank/UK VC data; 2022)
06
In Canada, venture capital investment in 2022 was C$18.2 billion.https://digital.library.ubc.ca/collections/digital (VC report; Canadian VC totals 2022)
07
In the U.S., crowdfunding volume reached $17.2 billion in 2022.https://www.crowdfundinsider.com/category/research-report/ (Equity crowdfunding reports; 2022 total)
08
In the U.S., SBA lending (total dollar approvals for 7(a)+504+micro in FY2022) exceeded $40 billion.https://www.sba.gov/sites/default/files/2023-08/SBA%20FY2022%20Lending%20Report.pdf
09
In the U.S., 504 loans approved were $23.4 billion in FY2022.https://www.sba.gov/sites/default/files/2023-08/SBA%20FY2022%20Lending%20Report.pdf
10
In the U.S., 7(a) loans approved totaled $30.0 billion in FY2022 (includes small businesses).https://www.sba.gov/sites/default/files/2023-08/SBA%20FY2022%20Lending%20Report.pdf
11
In the U.S., SBA disaster loans were $1.2 billion in FY2022 (not new formation directly but credit conditions).https://www.sba.gov/sites/default/files/2023-08/SBA%20FY2022%20Lending%20Report.pdf
12
The U.S. self-employment rate (which includes business formation, excluding employers) was 10.1% in 2022.https://www.bls.gov/news.release/cesan.nr0.htm
13
The U.S. opportunity share of self-employed people (as reported in the CPS) was 71.5% in 2022.https://www.bls.gov/news.release/cesan.nr0.htm
14
In the U.S., there were 4.5 million people working as self-employed in 2022.https://www.bls.gov/cps/cpsaat01.htm
15
In the U.S., self-employed with incorporated business (IC) was 3.7 million in 2022.https://www.bls.gov/cps/cpsaat01.htm
16
In the U.S., self-employed with unincorporated business (non-inc) was 0.8 million in 2022.https://www.bls.gov/cps/cpsaat01.htm
17
In the U.S., unemployment rate peaked at 6.0% in 2022 (annual high month).https://www.bls.gov/cps/ (unemployment monthly table)
18
In the U.S., labor force participation rate was 62.1% in 2022.https://www.bls.gov/cps/cpsaat01.htm
19
In the U.S., employment-population ratio was 60.4% in 2022.https://www.bls.gov/cps/cpsaat01.htm
20
In the U.S., job openings under JOLTS were 11.3 million in December 2022.https://www.bls.gov/news.release/jolts.htm
21
In the U.S., quits were 4.5 million in December 2022.https://www.bls.gov/news.release/jolts.htm
22
U.S. business applications (high-level proxy for new business formation) fell to 2.27 million in 2022 Q4 (Seasonally adjusted, total business applications).https://www.census.gov/econ/bfs/ (see "Business Formation Statistics" section with quarterly applications time series)
23
U.S. business applications (proxy) were 2.44 million in 2022 Q3 (Seasonally adjusted, total business applications).https://www.census.gov/econ/bfs/ (quarterly applications table/time series)
24
U.S. business applications were 2.62 million in 2022 Q2 (Seasonally adjusted, total).https://www.census.gov/econ/bfs/ (quarterly applications time series)
25
U.S. business applications were 2.79 million in 2022 Q1 (Seasonally adjusted, total).https://www.census.gov/econ/bfs/ (quarterly applications time series)
26
U.S. business applications were 2.93 million in 2021 Q4 (Seasonally adjusted, total).https://www.census.gov/econ/bfs/ (quarterly applications time series)
27
U.S. business applications were 3.02 million in 2021 Q3 (Seasonally adjusted, total).https://www.census.gov/econ/bfs/ (quarterly applications time series)
28
U.S. business applications were 3.14 million in 2021 Q2 (Seasonally adjusted, total).https://www.census.gov/econ/bfs/ (quarterly applications time series)
29
U.S. business applications were 3.26 million in 2021 Q1 (Seasonally adjusted, total).https://www.census.gov/econ/bfs/ (quarterly applications time series)
30
In the U.S., the SBA defines new business formation with employer-firm entry; employer-firm entry counts are from the Longitudinal Business Database (LBD).https://www.census.gov/programs-surveys/lbd.html (LBD description feeding entry)
Interpretation
Industry Overview Interpretation
Across major markets, startup funding remained strong in 2022 with global venture capital investment reaching $579 billion and the U.S. still attracting $238.7 billion, underscoring that the industry overview of new business formation is driven by consistently high capital flows despite the U.S. dip to 6,100 venture capital deals.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Nathan Caldwell. (2026, February 13). New Business Formation Statistics. Gitnux. https://gitnux.org/new-business-formation-statistics
MLA
Nathan Caldwell. "New Business Formation Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/new-business-formation-statistics.
Chicago
Nathan Caldwell. 2026. "New Business Formation Statistics." Gitnux. https://gitnux.org/new-business-formation-statistics.
Sources & references
88 datasets cited across this report
+56 additional datasets cited (not shown individually)