Kauffman State Entrepreneurship Indicators: Maine & Neighboring States
Bottom Line: Maine is the 6th most entrepreneurial state in the nation according to the Kauffman Foundation's Early-Stage Entrepreneurship Index (KESE), which aggregates entrepreneurship rates, jobs created by startup, entrepreneurship by choice (rather than necessity), and survival rate after one year. While Maine leads its geographic peers by its KESE score, it does not lead in every component. For instance, Vermont has a higher startup rate than Maine; Massachusetts and New Hampshire have higher entrepreneurship rates by choice; and Massachusetts has a higher number of jobs created per startup. Maine leads its geographic peers in business survival rate.
- 33 out of every 1,000 Maine residents start a business each month, making Maine one of the more entrepreneurial states in the Northeast.
- 78 percent of Maine entrepreneurs create their business by choice, rather than necessity, behind Massachusetts and New Hampshire.
- An impressive 88 percent of Maine businesses survive at least a year -- the highest rate among its geographic peers.
Read the full report HERE.