Entrepreneurship: Momentum, Measured Indiana elevated entrepreneurship as a core engine of economic growth in 2025, supporting founders, business succession, and new business formation across all 15 regions. That strategy is delivering measurable results. Once ranked near the bottom nationally, Indiana has climbed rapidly, accelerating its rate of new entrepreneurs thanks to a comprehensive approach to support founders and small businesses at all stages and in all communities. The numbers demonstrate that entrepreneurship is no longer concentrated in a few places, but active across the state. Entrepreneurship is a core engine of Indiana’s economy—creating jobs, preserving local ownership, and strengthening communities across all 15 regions. Governor Braun charged the Office of Commerce with elevating Hoosier founders who are building businesses that last. The results are clear.
By the Numbers
12th in the nation for rate of new entrepreneurs— jumping 31 spots since 2021
Highest level of new business formation since 1998
~50% Nearly half of Indiana’s workforce is employed by small businesses (U.S. Small Business Administration)
Top 10 Consistently ranked a Top 10 state for cost of doing business (CNBC America’s Top States for Business)
Top 5 One of the leading states for startup and small business survival (Kauffman Indicators of Entrepreneurship)
“Entrepreneurship is more than a pathway to economic prosperity—it’s the embodiment of freedom, creativity, and hope.” Governor Mike Braun
Source: IEDC analysis with Dr. Robert Fairlie (UCLA), using U.S. Census CPS data
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Office of Commerce 2025
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