North Dakota ranks No. 2 in business survival rates
BISMARCK - North Dakota ranks second in the nation for business survival rates, according to data from the Bureau of Labor Statistics.
The study assessed the states in which new businesses were most likely to survive.
In 2003, there were 1,094 business establishments born in North Dakota. Nearly half of these businesses (47.1 percent) survived until 2013.
Nationally, 610,082 businesses were established in 2003. Of these businesses, 226,809 (37.17 percent) survived.
California had the highest survival rate.
The number of limited liability companies registered in North Dakota increased 130 percent during the past four years from 12,459 to 28,657, according to North Dakota Secretary of State Al Jaeger.
“This number of new businesses, along with this recent top ranking survival rate, shows the continued strength of North Dakota,” Jaeger said.
The complete business survival report is available at www.bls.gov/bdm.