Illinois 2020 Snapshot | Early-Stage Entrepreneurship Entrepreneurship is important for job creation, innovation, and the economy. This brief provides a snapshot of various indicators related to early-stage entrepreneurial activity in Illinois. DOWNLOAD THE ILLINOIS 2020 SNAPSHOT [PDF] RATE OF NEW ENTREPRENEURS How many people are becoming entrepreneurs? Since 1998, the rate of new entrepreneurs in Illinois has been below the national rate. In Illinois, the rate of new entrepreneurs in 2020was 0.27%, meaning that 2.7 out of every 1,000 adults became new entrepreneurs, on average, in a given month. This compares to 0.34% nationally. VIEW ILLINOIS DATA OPPORTUNITY SHARE OF NEW ENTREPRENEURS How many new entrepreneurs created their business out of opportunity? Since 2016, the opportunity share of new entrepreneurs has been lower in Illinois compared to the rest of the nation. The opportunity share of new entrepreneurs was 78.5% in Illinois in 2020, compared to 80.9% nationally. VIEW ILLINOIS DATA STARTUP EARLY JOB CREATION How many jobs are created by new businesses? In recent years, the number of jobs created by startups in Illinois has been below the national level. There were 4.2 jobs created by startups per 1,000 people in Illinois in 2020, compared to5.0 jobs created by startups at the national level. VIEW ILLINOIS DATA STARTUP EARLY SURVIVAL RATE How many businesses survive their first year? In recent years, the share of startups that survive at least one year in Illinois has been similar to the national level. In 2020, 78.8% of startups in Illinois survived at least one year, compared to 78.1% of startups at the national level. VIEW ILLINOIS DATA