"Business owners helped the national economy defy expectations in 2023"

Yelp reports that the amount of new businesses started in the US increased 20% year over year in 2023. "In fact, each month in 2023 set a new all-time high in business openings for its respective month since 2019", the report states. The total new businesses started for the year 2023 was 762,227.

With more than 33 million businesses and growing, this report should give you some insight into the market for the near future.

Read the full report here:

data.yelp.com

For the first time every U.S. state surpassed its pre-pandemic levels of new business openings