Georgia just ranked among the top states for small business success in 2025. But, there’s a catch. Clarify Capital’s exclusive study reveals that Georgia now ranks #5 overall in the nation for small business climate, driven by high entrepreneurial momentum and big funding checks for those who get approved.

But while startups are booming, the funding picture tells a more complicated story.

Key Findings:

• Georgia ranks #5 overall for small business climate in 2025, based on growth, volume, and policy support

• #7 in new business applications per capita, showing a steady pipeline of entrepreneurs

• #7 in small business density, signaling a thriving independent business community

• But: Georgia ranks #26 in SBA loan approvals per capita, meaning fewer entrepreneurs are getting funded compared to other states

• And Georgia is #4 in average SBA loan size, suggesting those who do get loans are securing larger-than-average checks, while others may be left out entirely

In 2025, Wyoming, Colorado, and Florida are the best states for small business success. Each combines strong entrepreneurial activity with favorable business conditions.

Wyoming, for instance, offers a major tax advantage with no corporate or personal income tax. Colorado continues to strengthen its small business economy through legislation aimed at cutting red tape, expanding access to capital, and supporting entrepreneurs. Florida also ranks high thanks to its pro-business climate and rapid rate of small business formation.

In terms of funding, New Hampshire, Idaho, and Utah have the highest number of approved small business loans per capita, meaning entrepreneurs in these states have better odds of securing capital. But when it comes to loan size, North Dakota, Alaska, and Texas take the lead, offering approved borrowers the most financial firepower to grow.

Wyoming, Florida, and Georgia also stand out for new business application rates and small business density. That means they have a high rate of people applying to start businesses but also a large number of small businesses relative to their population. These factors point to strong startup momentum and thriving local business communities.

On the other end, West Virginia, Maryland, and Hawaii rank as the most challenging states for small businesses. These states tend to lag in funding access, new business formation, or small business presence.

For the full report visit clarifycapital.com