A recent report found that Delaware, Wyoming, and California were leading in entrepreneurial contributions to their local economies in 2022.
Being an entrepreneur or self-starter doesn’t just mean you’re contributing to your own financial success, you’re also contributing to the local economy.
A recent report by the e-commerce platform Shopify analyzed the economic impact of entrepreneurs worldwide by measuring how people in the platform’s ecosystem contributed to jobs supported (the number of jobs sustained by entrepreneurs who use Shopify’s platform to sell goods and services), GDP impact (value of goods and services produced by merchants), and business activity (merchant revenue plus the revenue of suppliers who provide materials and services).
Overall, entrepreneurs in Shopify’s ecosystem supported 5.2 million jobs globally in 2022 (an 8.3% increase from 2021) and generated $490.5 billion in economic activity (+8.6%).
Leading Shopify’s global ranking was the U.S., with over $270 billion generated from business activity, 1.1 million jobs supported, and a GDP impact of $128.7 billion. The second and third spots were both in Eastern Europe — Lithuania (No. 2) and Romania (No. 3) — followed by the United Kingdom (No. 4) and the Czech Republic (No. 5).
In the U.S., Delaware was the top state for entrepreneurial contribution to the economy with business activity of $2.2 billion, 9,280 jobs supported, and a GDP impact of over $1 billion.
After Delaware, the Mountain States dominated the ranks, with three out of the top five across the country being in the region: Wyoming (No. 2), Montana (No. 4), and Utah (No. 5). California ranked No. 3, and was also independently leading for the most jobs created across the country at 134,024.
Here are the top 10 U.S. states where entrepreneurs in Shopify’s ecosystem are generating the most business for their economy:
Business activity: $2.2 billion
Jobs Supported: 9,280 jobs supported
GDP Impact: $1 billion
Business activity: $912 million
Jobs Supported: 3,710
GDP Impact: $416 million
Business activity: $57.6 billion
Jobs Supported: 235,237
GDP Impact: $26.6 billion
Business activity: $694 million
Jobs Supported: 2,838
GDP Impact: $325 million
Business activity: $6.9 billion
Jobs Supported: 28,081
GDP Impact: $3.1 billion
Business activity: $3.4 billion
Jobs Supported: 13,885
GDP Impact: $1.5 billion
Business activity: $2.6 billion
Jobs Supported: 10,832
GDP Impact: $1.2 billion
Business activity: $15.5 billion
Jobs Supported: 63,560
GDP Impact: $7.2 billion
Business activity: $1.3 billion
Jobs Supported: 5,612
GDP Impact: $639 million
Business activity: $826 million
Jobs Supported: 3,380
GDP Impact: $389 million
This article was originally posted on Entrepreneur at: https://www.entrepreneur.com/business-news/5-states-where-entrepreneurs-are-driving-the-economy-the/452254