New U.S. business applications hit a high water mark in 2023, with notable hot spots in the Southeast and Mountain West.

Why it matters: Small businesses are a cornerstone of the U.S. economy, employing tens of millions of Americans.

Driving the news: Americans filed nearly 5.5 million new business applications in 2023, per the U.S. Census Bureau, or about 16.3 for every 1,000 residents.

• That's up from about 5.1 million in 2022 and 3.5 million in 2018, before the COVID-19 pandemic.
• About 1.8 million of 2023's new businesses are highly likely to hire workers, per the bureau, compared to around 1.3 million in 2018.

Zoom in: Wyoming (100.1), Delaware (53.4) and Florida (29.4) had the highest rates of new business applications per 1,000 residents in 2023.

• The first two are perennial new business favorites for legal and tax reasons.

Stunning stat: Nearly 85% of consumers say they'll probably shop at a small business this holiday season, a new American Express survey finds, up 11 points over the last decade.

Reality check: Filling out the paperwork for a new firm is just one step, but it's at least a sign of confidence that small business success is possible.