West Virginia Ranks No. 1 in Nation for Five-Year Business Survival

CHARLESTON, W.Va. — West Virginia ranks first in the nation for the five-year survival rate of new businesses, according to a recent analysis highlighted by the West Virginia Secretary of State’s Office.

The analysis found that 57.6% of businesses launched in West Virginia in 2019 were still operating five years later, the highest rate among all 50 states and above the national average of 51.6%.

Connecticut ranked second at 57.5%, while Pennsylvania and Alaska tied for third at 56%.

The numbers are based on establishment survival data from the U.S. Bureau of Labor Statistics, which tracks private-sector establishments by the year they opened and how many remain in operation over time.

The five-year period is particularly notable because businesses that opened in 2019 had to make it through the COVID-19 pandemic and the economic disruptions that followed.

West Virginia Secretary of State Kris Warner highlighted the ranking in an Aug. 31 announcement, crediting entrepreneurs along with business organizations, educators, lenders, economic development professionals, local governments and state agencies for supporting businesses across the state.

“Launching a business is certainly important, but longevity is the true measure of success,” Warner said.

The ranking offers a different look at West Virginia’s business economy than startup numbers alone. Rather than measuring only how many businesses are being created, the five-year survival rate shows how many make it through some of the most difficult early years of operation.

For communities across West Virginia, those businesses include locally owned shops, restaurants, service companies and other employers that continue operating, employing workers and investing in the places they call home.