The Visual Capitalist recently posted an interesting map of “America’s Entrepreneurial Spirit,” but the analysis seems to be based only on business license applications recorded in each state.
If you look closely, the trends from one region to another might not be what you expect. For example, why are different states like Illinois and Mississippi both doing so well? And why is Illinois (a heavily regulated state) doing better than California (another heavily regulated state)?
Some states license more kinds of businesses than other states, so states with more of a hands-off approach would fare poorly in this rack-up compared to states that try to license everything. But is it really possible to license and regulate everything? Can you think of any kinds of entrepreneurial start-ups that might not need a business license?