Michigan Posts 54.7% 5-Year Business Survival Rate, Ranking Behind Only 4 States

2 articles · Updated · Detroit News · Aug 28

Michigan kept 54.7% of businesses opened between 2018 and 2020 alive after five years, a new Build Your Store analysis of BLS data found.
Only four states ranked higher—Minnesota led at 56.2%, while Pennsylvania and West Virginia tied at 55.9% and Illinois reached 55.2%—but experts said Michigan is still recovering from pandemic-era weakness.
University of Michigan-Dearborn researchers and business leaders tied the result to institutional quality, infrastructure, workforce strength and southeast Michigan programs that offer financing, mentorship and training.
Entrepreneurs still cited inflation, hiring costs, rising rents and burdensome regulation as threats to survival, with one professor warning the ranking alone does not prove Michigan is easier or better for running a business.

Sources

Right100%

Detroit News23h ago

Michigan Ranks Among Top States for 5-Year Business Survival Rate

Facebook23h ago

Ohio hit the top of CNBC's business rankings, but state officials say sustaining that success will require long-term investment. See link below ⬇️ 📸 Sheridan Hendrix/Columbus Dispatch

Could Michigan’s impressive business survival rate actually be a hidden warning sign that its startup barriers are too high for average entrepreneurs?

What secret filtering mechanisms make Michigan’s new businesses mysteriously outlast those launched in seemingly friendlier states?