A new report out by the Kauffman Index – a widely reported source of business data and trends – shows Columbus dropping precipitously in its latest report on entrepreneurial activity.
According to the report, Columbus dropped from 13th best metro area for startup activity last year all the way down to 23rd place in this year’s report. The data showed a startup rate of just 0.28% – meaning 280 out of every 100,000 adults became entrepreneurs in a given month. This, compared to the report’s #1 spot for startup activity going to the Miami-Ft. Lauderdale metro area which posted a startup rate of 0.56% – double that of Columbus.
The same report showed the Cincinnati metro area climbing 7 spots from #25 to #18 in this year’s report. Cleveland metro also showed a gain in startup activity year over year, climbing from 37th to 28th place but with a startup rate of just .019%
The Kauffman Index of Entrepreneurship series is an umbrella of annual reports that measure U.S. entrepreneurship across national, state and top 40 metro levels. Rather than focusing on inputs, the Kauffman Index focuses primarily on entrepreneurial outputs—the actual results of entrepreneurial activity, such as new companies, business density and growth rates.