This report presents trends in startup activity over the past two decades for the United States, as well as for all the fifty states and the forty largest U.S metropolitan areas. Trends in startup activity also are reported at the national level for specific demographic groups for some of the Index components, when available. Broad-based entrepreneurship in America appears to be slowly crawling its way out of the depths it has been stuck in since 2010.
Startup activity rose in 2015, reversing a five-year downward trend in the United States, giving rise to hope for a revival of entrepreneurship. However, the return remains tepid and well below historical trends. A principle driver of this year's uptick is the growth of male opportunity entrepreneurship, accompanied by the continued strength of immigrant entrepreneurship. Males were hit particularly hard during the Great Recession.