People continue to invest in themselves as the number of business applications in NH reached 13,893 in 2022, a 1.1% increase from 2021, according to U.S. Census data.
The thirst for entrepreneurship varies geographcially. Among those counties that saw an increase from 2021 are Carroll (up 7.7%), Hillsborough (4.7%), Grafton (4.6%), Sullivan (3.8%), Strafford (1.45%), and Rockingham (0.6%). A few counties saw a decline between 2021 and 2022— Cheshire (down 12.2%), Belknap (down 9.9%), and Merrimack (down 1%). (No data was available for Coos.) The largest number of business applications were concentrated in Hillsborough County (4,536) and Rockingham County (3,582).
To help startups succeed, Business NH Magazine compiled this Startup Guide as part of our annual Business Resource Directory, enlisting experts from the Small Business Development Center (SBDC); the NH Tech Alliance, which has a Startup Committee and several initiatives aimed at startups; and Goldman Sachs 10,000 Small Businesses program.
The NH SBDC provides counseling and training to small businesses, and develops and provides informational tools to support business startups and existing business expansion. Their professional business advisors provide individualized and confidential advising at no charge. In 2023, the NH SBDC served 3,409 entrepreneurs in more than 200 NH communities, helping them raise $37 million in new capital, create or save 628 jobs and increase sales by $26.4 million.
In addition to articles that help startups navigate common challenges, we are spotlighting intriguing startups that launched in NH in the past five years. We invited startups from across the state to complete a survey to be considered for the Startup Stars section, and we asked for suggestions from the SBDC and the NH Tech Alliance. We whittled that field down to the 10 Startup Stars featured in this guide. We will be featuring more of these companies in the coming months in the Upstart Startups section of the magazine.
Only time will tell if these startups will thrive, but they are each off to a healthy start and represent the array of businesses launching in the Granite State—innovative companies in tech, health care, law, forestry, and retail.
This startup guide, coupled with the overall information collected within this business resource directory, provides companies with the information they need to succeed in the Granite State.