The number of proprietors increased in 2015 by 2.9% rela tive to the previous year. (Source: BEA). ⢠Small businesses
UNITED STATES 29.6 million 99.9%
57.9 million 47.8%
Small Businesses of United States Businesses
DIVERSITY
EMPLOYMENT
1.4 million net new jobs
Small Business Employees of United States Employees
TRADE
8.0 million
97.7%
minority-owned businesses
of United States exporters
OVERALL U NITED S TATES E CONOMY • Multiple economic indicators consistently signaled a strengthening US economy in 2016. In the second quarter of 2016, the United States grew at an annual rate of 1.2%. The United States’s 2015 growth rate of 2.5% was up from the 2014 rate of 2.2%. (Source: BEA) • The employment situation in the United States continued to improve. In December 2016, the unemployment rate was 4.7%, down from 5.0% at the close of 2015. (Source: CPS) E MPLOYMENT • United States small businesses employed 57.9 million peo ple, or 47.8% of the private workforce, in 2014. (Source: SUSB)
Figure 1: United States Employment by Business Size (Employees) 120M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
100M
more than 500
• During the year ending December 2016, private-sector em ployment increased 1.4%. This was below the previous year’s increase of 1.7%. (Source: CPS)
80M
60M
• The number of proprietors increased in 2015 by 2.9% rela tive to the previous year. (Source: BEA)
100 to 499 40M
20 to 99 20M
fewer than 20 0
1998
2006
• Small businesses created 1.4 million net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 employees experienced the largest gains, adding 279,691 net jobs. The smallest gains were in firms em ploying 5 to 9 employees, which added 114,447 net jobs. 2014 (Source: BDS)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
1
United States Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 5.2 million loans under $100,000 (valued at $73.6 billion) were issued by United States lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $49,804 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,424. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: United States Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
2.6M
29.5M
Asian
1.9M
12.0M
Hawaiian/Pacific Islander
54.7K
387.5K 35.3M
Hispanic
3.3M
Native American/Alaskan
272.9K
1.9M
Some other race
1.2M
10.6M
Nonveteran
24.1M
222.0M
Veteran
2.5M
21.9M
Minority
8.0M
81.7M
Nonminority
19.0M
162.1M
Female
9.9M
125.2M
Male
14.8M
118.6M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 9.9M ÷125.2M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: United States Quarterly Startups and Exits startups
• In the second quarter of 2015, 234,000 establishments started up, generating 839,000 new jobs in the United States. Startups are counted when business establish ments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 213,000 establishments exited resulting in 735,000 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
230K
220K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
210K
200K
2000
SBA Office of Advocacy
2008
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include 2016 seasonal re-openings and closings include seasonal shutterings.
2
United States Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 304,466 companies exported goods from the United States in 2014. Among these, 297,519, or 97.7%, were small
firms; they generated 33.4% of the United States’s $1.4 trillion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: United States Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
8,585,726 7,712,638 5,444,994 5,115,574 4,975,653 4,726,142 4,584,117 3,582,293 3,472,629 1,930,262 1,610,300 1,564,776 1,390,267 1,344,150 895,314 309,203 133,704 111,648 57,894,592
18,852,038 12,791,928 15,372,632 11,424,251 8,619,574 5,705,146 5,347,121 10,579,324 5,966,747 6,078,713 4,406,767 3,562,364 2,021,372 2,170,121 3,364,530 758,971 156,363 637,840 121,069,944
46% 60% 35% 45% 58% 83% 86% 34% 58% 32% 37% 44% 69% 62% 27% 41% 86% 18% 48%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Professional, Scientific, and Technical Services Construction Other Services (Except Public Administration) Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
Figure 4: United States Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
16% to 52%
63% to 79%
52% to 63%
79% to 100%
3
United States Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: United States Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Real Estate and Rental and Leasing Health Care and Social Assistance Retail Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Finance and Insurance Accommodation and Food Services Educational Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
674,514 786,915 653,598 281,567 646,954 648,572 327,706 118,566 171,251 234,350 506,725 86,549 306,839 248,152 72,028 21,075 22,376 5,726 5,806,382
630,321 739,410 603,833 268,892 565,139 593,352 291,391 103,075 152,552 217,435 397,554 68,347 264,889 188,361 62,164 19,752 18,766 4,518 5,205,640
3,680,189 3,363,252 2,442,519 2,543,791 1,986,042 1,960,682 2,075,368 1,311,429 1,250,881 715,767 364,001 677,143 416,799 350,346 331,061 237,817 109,866 19,984 23,836,937
4,354,703 4,150,167 3,096,117 2,825,358 2,632,996 2,609,254 2,403,074 1,429,995 1,422,132 950,117 870,726 763,692 723,638 598,498 403,089 258,892 132,242 25,710 29,643,319
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
4
United States Small Business Profile, 2017
ALABAMA 388,850 99.4%
772,214 48.1%
Small Businesses of Alabama Businesses
DIVERSITY
EMPLOYMENT
92,183
8,971
minority-owned businesses
net new jobs
Small Business Employees of Alabama Employees
TRADE
80.9% of Alabama exporters
OVERALL A LABAMA E CONOMY • In the second quarter of 2016, Alabama grew at an annual rate of 1.1%, which was slower than the overall US growth rate of 1.2%. Alabama’s 2015 growth rate of 0.9% was up from the 2014 rate of 0.1%. (Source: BEA) • In November 2016, the unemployment rate was 5.9%, down from 6.3% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Alabama Employment by Business Size (Employees)
• Alabama small businesses employed 772,214 people, or 48.1% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.5M
more than 500
• During the year ending November 2016, private-sector em ployment increased 2.7%. This was above the previous year’s increase of 0.2%. (Source: CPS)
1.0M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499 500.0K
• Small businesses created 8,971 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 4,113 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 771 net jobs. (Source: BDS)
20 to 99
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
5
Alabama Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 53,528 loans under $100,000 (valued at $887.3 million) were issued by Alabama lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $47,667 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,573. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Alabama Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
73.0K
954.2K
Asian
9.3K
42.7K
Hawaiian/Pacific Islander
211
1.1K
Hispanic
6.7K
120.2K
Native American/Alaskan
3.9K
20.6K
Some other race
3.0K
34.3K
Nonveteran
316.4K
3.4M
Veteran
41.9K
398.3K
Minority
92.2K
1.2M
Nonminority
272.1K
2.6M
Female
137.6K
2.0M
Male
203.0K
1.8M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 137.6K ÷2.0M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Alabama Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,335 establishments started up, generating 11,152 new jobs in Alabama. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.7K
• In the same period, 2,440 establishments exited resulting in 8,633 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.6K 2.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.4K 2.3K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2.2K
2000
SBA Office of Advocacy
2008
2016
6
Alabama Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 4,094 companies exported goods from Alabama in 2014. Among these, 3,313, or 80.9%, were small firms; they
generated 20.4% of Alabama’s $18.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Alabama Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
113,630 93,444 88,453 84,071 68,766 63,503 57,438 44,767 43,839 24,968 23,973 15,899 14,314 11,805 8,962 5,779 2,521 2,163 772,214
236,675 165,836 227,977 243,899 80,861 77,743 93,495 129,311 71,724 70,052 59,186 22,975 25,217 17,030 33,189 6,413 7,001 s 1,604,016
48% 56% 39% 34% 85% 82% 61% 35% 61% 36% 41% 69% 57% 69% 27% 90% 36% 48%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Transportation and Warehousing Real Estate and Rental and Leasing Educational Services Arts, Entertainment, and Recreation Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Figure 4: Alabama Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
7
21% to 49%
56% to 64%
49% to 56%
64% to 100%
Alabama Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Alabama Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Professional, Scientific, and Technical Services Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Wholesale Trade Educational Services Manufacturing Agriculture, Forestry, and Fishing and Hunting Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
10,019 7,067 3,342 8,051 10,560 2,831 7,820 2,218 1,008 2,909 5,531 3,725 751 3,364 772 606 141 93 70,714
9,298 6,294 2,838 7,363 9,509 2,611 6,646 1,859 858 2,569 4,187 2,922 580 2,336 718 486 95 61 61,380
64,209 40,347 37,761 32,439 28,405 29,803 22,097 13,192 11,623 8,065 4,904 5,245 7,382 4,519 4,207 2,941 708 289 318,136
74,228 47,414 41,103 40,490 38,965 32,634 29,917 15,410 12,631 10,974 10,435 8,970 8,133 7,883 4,979 3,547 849 382 388,850
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
8
Alabama Small Business Profile, 2017
ALASKA 72,042 99.2%
142,761 53.5%
Small Businesses of Alaska Businesses
DIVERSITY
EMPLOYMENT
13,680
1,978
minority-owned businesses
net new jobs
Small Business Employees of Alaska Employees
TRADE
74.2% of Alaska exporters
OVERALL A LASKA E CONOMY • In the second quarter of 2016, Alaska grew at an annual rate of -2.0%, which was slower than the overall US growth rate of 1.2%. Alaska’s 2015 growth rate of -0.6% was up from the 2014 rate of -3.3%. (Source: BEA) • In November 2016, the unemployment rate was 6.8%, up from 6.6% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Alaska Employment by Business Size (Employees)
• Alaska small businesses employed 142,761 people, or 53.5% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
250K
200K
• During the year ending November 2016, private-sector em ployment decreased 1.5%. This was below the previous year’s decrease of 0.4%. (Source: CPS)
more than 500 150K
• The number of proprietors increased in 2015 by 3.5% rela tive to the previous year. (Source: BEA)
100 to 499 100K
• Small businesses created 1,978 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 652 net jobs. The largest losses were in firms employing 250 to 499 employees, which lost 157 net jobs. (Source: BDS)
20 to 99 50K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
9
Alaska Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 14,166 loans under $100,000 (valued at $217.7 million) were issued by Alaska lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $55,530 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $30,655. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Alaska Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
1.3K
18.4K
Asian
3.0K
30.4K
Hawaiian/Pacific Islander
247
4.9K
Hispanic
2.1K
27.0K
Native American/Alaskan
7.5K
71.0K
Some other race
857
6.1K
Nonveteran
56.0K
473.4K
Veteran
7.9K
72.1K
Minority
13.7K
177.3K
Nonminority
51.1K
368.2K
Female
22.1K
261.2K
Male
35.3K
284.2K
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 22.1K ÷261.2K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Alaska Quarterly Startups and Exits startups
• In the second quarter of 2015, 447 establishments started up, generating 1,474 new jobs in Alaska. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
520
• In the same period, 476 establishments exited resulting in 1,737 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
500
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
480
460
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
10
Alaska Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 570 companies exported goods from Alaska in 2014. Among these, 423, or 74.2%, were small firms; they
generated 39.0% of Alaska’s $4.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Alaska Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Administrative, Support, and Waste Management Transportation and Warehousing Wholesale Trade Manufacturing Finance and Insurance Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Educational Services Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
28,069 20,617 15,039 13,300 10,989 9,478 7,311 6,764 5,130 4,427 3,550 3,515 3,217 2,562 2,552 2,133 1,795 745 142,761
47,152 27,694 33,677 20,222 18,959 10,116 18,321 18,678 9,479 12,846 7,512 4,420 4,950 6,799 2,825 12,752 2,085 1,003 266,886
60% 74% 45% 66% 58% 94% 40% 36% 54% 34% 47% 80% 65% 38% 90% 17% 86% 74% 53%
Figure 4: Alaska Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
11
17% to 56%
70% to 89%
56% to 70%
89% to 100%
Alaska Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Alaska Small Businesses by Industry and Firm Size, 2014
Industry Agriculture, Forestry, and Fishing and Hunting Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Retail Trade Health Care and Social Assistance Real Estate and Rental and Leasing Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Accommodation and Food Services Transportation and Warehousing Educational Services Manufacturing Finance and Insurance Wholesale Trade Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
437 1,599 1,641 2,384 1,746 1,975 768 904 509 1,755 796 218 429 373 428 178 120 58 16,224
431 1,445 1,536 2,249 1,567 1,735 721 818 470 1,487 709 186 374 328 315 140 99 38 14,655
9,688 6,897 5,740 4,623 4,418 3,722 4,854 3,210 3,355 1,660 2,446 1,779 1,155 770 600 516 329 56 55,818
10,125 8,496 7,381 7,007 6,164 5,697 5,622 4,114 3,864 3,415 3,242 1,997 1,584 1,143 1,028 694 449 114 72,042
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
12
Alaska Small Business Profile, 2017
ARIZONA 538,552 99.4%
995,671 44.4%
Small Businesses of Arizona Businesses
DIVERSITY
EMPLOYMENT
135,258
26,932
minority-owned businesses
net new jobs
Small Business Employees of Arizona Employees
TRADE
88.1% of Arizona exporters
OVERALL A RIZONA E CONOMY • In the second quarter of 2016, Arizona grew at an annual rate of 2.7%, which was faster than the overall US growth rate of 1.2%. Arizona’s 2015 growth rate of 1.4% was down from the 2014 rate of 1.5%. (Source: BEA) • In November 2016, the unemployment rate was 5.0%, down from 5.9% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Arizona Employment by Business Size (Employees)
• Arizona small businesses employed 995,671 people, or 44.4% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
more than 500 1.5M
• During the year ending November 2016, private-sector em ployment increased 3.8%. This was above the previous year’s increase of 2.0%. (Source: CPS)
1.0M
• The number of proprietors increased in 2015 by 3.1% rela tive to the previous year. (Source: BEA)
100 to 499
• Small businesses created 26,932 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 6,628 net jobs. The smallest gains were in firms employing 10 to 19 employees, which added 2,628 net jobs. (Source: BDS)
20 to 99
500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
13
Arizona Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 109,754 loans under $100,000 (valued at $1.5 billion) were issued by Arizona lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $47,201 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,751. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Arizona Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
15.3K
193.9K
Asian
22.1K
143.2K
Hawaiian/Pacific Islander
1.0K
9.2K
Hispanic
89.4K
1.3M
Native American/Alaskan
10.9K
202.9K
Some other race
36.3K
285.0K
Nonveteran
426.9K
4.4M
Veteran
46.7K
530.7K
Minority
135.3K
1.9M
Nonminority
344.2K
3.1M
Female
182.4K
2.5M
Male
244.6K
2.5M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 182.4K ÷2.5M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Arizona Quarterly Startups and Exits startups
• In the second quarter of 2015, 3,745 establishments started up, generating 15,538 new jobs in Arizona. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
4.5K
4.0K
• In the same period, 3,908 establishments exited resulting in 14,645 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
3.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
14
Arizona Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 7,566 companies exported goods from Arizona in 2014. Among these, 6,663, or 88.1%, were small firms; they
generated 26.2% of Arizona’s $19.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Arizona Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Construction Retail Trade Administrative, Support, and Waste Management Professional, Scientific, and Technical Services Other Services (Except Public Administration) Manufacturing Wholesale Trade Educational Services Arts, Entertainment, and Recreation Finance and Insurance Real Estate and Rental and Leasing Transportation and Warehousing Information Utilities Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
152,300 148,579 103,969 85,942 80,144 78,299 72,423 63,681 47,312 28,667 28,007 27,820 27,058 24,244 13,341 2,477 2,227 1,270 995,671
325,753 272,779 131,133 306,601 257,224 142,438 85,244 140,517 91,700 60,583 42,507 136,738 43,538 84,449 46,118 12,265 11,920 1,430 2,241,077
47% 54% 79% 28% 31% 55% 85% 45% 52% 47% 66% 20% 62% 29% 29% 20% 19% 89% 44%
Figure 4: Arizona Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
15
44% to 53%
59% to 74%
53% to 59%
74% to 100%
Arizona Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Arizona Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Real Estate and Rental and Leasing Health Care and Social Assistance Retail Trade Construction Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Finance and Insurance Educational Services Accommodation and Food Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
15,090 9,607 6,586 13,069 9,434 11,151 6,741 1,524 2,453 4,644 1,704 8,007 4,861 3,726 1,119 187 162 134 100,199
14,046 8,835 6,277 11,622 8,436 9,958 5,860 1,199 2,079 4,328 1,309 5,828 3,956 2,839 909 171 127 112 88,165
64,393 65,658 59,219 35,981 38,293 36,239 39,722 22,893 19,541 14,710 12,131 5,599 7,946 6,987 5,936 2,399 374 332 438,353
79,483 75,265 65,805 49,050 47,727 47,390 46,463 24,417 21,994 19,354 13,835 13,606 12,807 10,713 7,055 2,586 536 466 538,552
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
16
Arizona Small Business Profile, 2017
ARKANSAS 244,977 99.3%
481,170 48.5%
Small Businesses of Arkansas Businesses
DIVERSITY
EMPLOYMENT
35,962
6,184
minority-owned businesses
net new jobs
Small Business Employees of Arkansas Employees
TRADE
79.5% of Arkansas exporters
OVERALL A RKANSAS E CONOMY • In the second quarter of 2016, Arkansas grew at an annual rate of 1.6%, which was faster than the overall US growth rate of 1.2%. Arkansas’s 2015 growth rate of 0.5% was down from the 2014 rate of 1.4%. (Source: BEA) • In November 2016, the unemployment rate was 4.0%, down from 4.7% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Arkansas Employment by Business Size (Employees)
• Arkansas small businesses employed 481,170 people, or 48.5% of the private workforce, in 2014. (Source: SUSB)
1M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
800K
more than 500
• During the year ending November 2016, private-sector em ployment increased 1.9%. This was below the previous year’s increase of 2.5%. (Source: CPS)
600K
• The number of proprietors increased in 2015 by 2.4% rela tive to the previous year. (Source: BEA)
100 to 499
400K
• Small businesses created 6,184 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 3,078 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 711 net jobs. (Source: BDS)
20 to 99 200K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
17
Arkansas Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 36,027 loans under $100,000 (valued at $578.2 million) were issued by Arkansas lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,609 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,273. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Arkansas Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
20.6K
334.1K
Asian
4.7K
27.6K
Hawaiian/Pacific Islander
153
3.3K
Hispanic
8.0K
116.7K
Native American/Alaskan
3.1K
13.4K
Some other race
3.3K
41.2K
Nonveteran
192.7K
2.0M
Veteran
25.9K
242.2K
Minority
36.0K
523.2K
Nonminority
188.7K
1.8M
Female
75.9K
1.2M
Male
122.8K
1.1M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 75.9K ÷1.2M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Arkansas Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,893 establishments started up, generating 6,168 new jobs in Arkansas. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.1K
• In the same period, 1,765 establishments exited resulting in 4,509 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.0K
1.9K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.8K
1.7K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.6K
2000
SBA Office of Advocacy
2008
2016
18
Arkansas Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 2,365 companies exported goods from Arkansas in 2014. Among these, 1,879, or 79.5%, were small firms; they
generated 21.4% of Arkansas’s $6.3 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Arkansas Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Other Services (Except Public Administration) Construction Wholesale Trade Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
86,418 67,366 53,672 41,002 38,303 37,264 27,799 26,340 23,538 17,117 16,894 10,293 9,098 7,504 5,107 4,158 3,582 2,538 481,170
170,306 98,592 141,256 153,715 41,124 41,363 43,907 37,324 57,121 36,294 50,142 15,849 13,397 9,215 25,782 4,538 8,101 7,478 992,201
51% 68% 38% 27% 93% 90% 63% 71% 41% 47% 34% 65% 68% 81% 20% 92% 44% 34% 48%
Figure 4: Arkansas Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
19
29% to 51%
64% to 87%
51% to 64%
87% to 100%
Arkansas Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Arkansas Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Retail Trade Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Health Care and Social Assistance Real Estate and Rental and Leasing Transportation and Warehousing Finance and Insurance Arts, Entertainment, and Recreation Accommodation and Food Services Wholesale Trade Agriculture, Forestry, and Fishing and Hunting Educational Services Manufacturing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
6,197 5,036 6,605 5,263 2,128 5,699 2,224 1,853 2,258 775 4,028 2,344 610 535 2,035 417 303 124 48,384
5,807 4,588 5,991 4,966 1,855 4,834 2,097 1,630 2,058 682 2,997 1,781 571 420 1,489 338 248 103 42,578
36,704 28,226 18,062 17,638 20,320 15,362 17,261 9,471 6,274 6,602 3,117 2,961 4,335 4,358 2,721 1,676 1,339 166 196,593
42,901 33,262 24,667 22,901 22,448 21,061 19,485 11,324 8,532 7,377 7,145 5,305 4,945 4,893 4,756 2,093 1,642 290 244,977
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
20
Arkansas Small Business Profile, 2017
CALIFORNIA 3.8 million 99.8%
6.8 million 49.2%
Small Businesses of California Businesses
DIVERSITY
EMPLOYMENT
1.6 million
197,532
minority-owned businesses
net new jobs
Small Business Employees of California Employees
TRADE
95.9% of California exporters
OVERALL C ALIFORNIA E CONOMY • In the second quarter of 2016, California grew at an annual rate of 2.2%, which was faster than the overall US growth rate of 1.2%. California’s 2015 growth rate of 3.8% was unchanged from the 2014 rate of 3.8%. (Source: BEA) • In November 2016, the unemployment rate was 5.3%, down from 5.9% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: California Employment by Business Size (Employees)
• California small businesses employed 6.8 million people, or 49.2% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
more than 500
10M
• During the year ending November 2016, private-sector em ployment increased 3.1%. This was above the previous year’s increase of 1.6%. (Source: CPS) • The number of proprietors increased in 2015 by 3.2% rela tive to the previous year. (Source: BEA)
100 to 499 5M
• Small businesses created 197,532 net jobs in 2014. Among the seven BDS size-classes, firms employing 1 to 4 em ployees experienced the largest gains, adding 36,439 net jobs. The smallest gains were in firms employing 10 to 19 employees, which added 16,076 net jobs. (Source: BDS)
20 to 99
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
21
California Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 836,919 loans under $100,000 (valued at $11.7 billion) were issued by California lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $56,142 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $24,364. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: California Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
177.3K
1.8M
Asian
604.8K
4.0M
Hawaiian/Pacific Islander
14.4K
113.8K
Hispanic
815.2K
9.8M
Native American/Alaskan
41.3K
226.8K
Some other race
386.2K
3.5M
Nonveteran
3.2M
27.2M
Veteran
252.2K
2.0M
Minority
1.6M
16.4M
Nonminority
1.8M
12.8M
Female
1.3M
14.8M
Male
1.9M
14.4M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 1.3M ÷14.8M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: California Quarterly Startups and Exits startups
• In the second quarter of 2015, 41,416 establishments started up, generating 114,230 new jobs in California. Star tups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 36,397 establishments exited resulting in 113,480 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
40K
35K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
30K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
25K
2000
SBA Office of Advocacy
2008
2016
22
California Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 75,722 companies exported goods from California in 2014. Among these, 72,591, or 95.9%, were small firms;
they generated 43.4% of California’s $158.3 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: California Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Professional, Scientific, and Technical Services Manufacturing Retail Trade Construction Wholesale Trade Other Services (Except Public Administration) Administrative, Support, and Waste Management Educational Services Real Estate and Rental and Leasing Finance and Insurance Transportation and Warehousing Information Arts, Entertainment, and Recreation Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
969,294 862,889 670,515 617,658 585,593 544,687 509,066 461,079 408,145 208,928 197,657 196,356 167,695 164,321 163,893 19,631 9,671 4,619 6,806,594
1,537,438 1,818,568 1,226,321 1,149,707 1,638,332 644,977 840,397 568,661 1,300,624 395,407 281,169 585,304 463,483 645,036 321,658 26,328 27,276 s 13,838,702
63% 47% 55% 54% 36% 84% 61% 81% 31% 53% 70% 34% 36% 25% 51% 75% 35% 49%
Figure 4: California Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
23
42% to 52%
60% to 72%
52% to 60%
72% to 100%
California Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: California Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Other Services (Except Public Administration) Health Care and Social Assistance Real Estate and Rental and Leasing Retail Trade Administrative, Support, and Waste Management Construction Arts, Entertainment, and Recreation Transportation and Warehousing Wholesale Trade Finance and Insurance Accommodation and Food Services Educational Services Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
110,456 65,067 88,791 40,125 68,600 35,526 66,386 21,112 17,481 50,402 27,627 61,647 11,761 34,852 15,311 1,795 572 472 718,558
103,199 60,143 80,902 38,138 62,506 31,059 60,434 19,280 15,266 43,616 25,665 48,295 9,213 26,937 13,395 1,577 453 416 643,141
539,499 486,914 274,662 315,451 234,730 257,368 225,246 205,389 173,838 62,474 85,156 44,654 84,809 47,452 60,832 13,214 4,368 1,535 3,117,591
649,955 551,981 363,453 355,576 303,330 292,894 291,632 226,501 191,319 112,876 112,783 106,301 96,570 82,304 76,143 15,009 4,940 2,007 3,836,149
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
24
California Small Business Profile, 2017
COLORADO 596,210 99.5%
1.1 million 48.6%
Small Businesses of Colorado Businesses
DIVERSITY
EMPLOYMENT
85,809
51,068
minority-owned businesses
net new jobs
Small Business Employees of Colorado Employees
TRADE
87.3% of Colorado exporters
OVERALL C OLORADO E CONOMY • In the second quarter of 2016, Colorado grew at an annual rate of 1.1%, which was slower than the overall US growth rate of 1.2%. Colorado’s 2015 growth rate of 3.2% was down from the 2014 rate of 4.6%. (Source: BEA) • In November 2016, the unemployment rate was 3.2%, down from 3.5% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Colorado Employment by Business Size (Employees)
• Colorado small businesses employed 1.1 million people, or 48.6% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
• During the year ending November 2016, private-sector em ployment increased 3.6%. This was above the previous year’s increase of 1.2%. (Source: CPS)
more than 500
1.5M
• The number of proprietors increased in 2015 by 2.7% rela tive to the previous year. (Source: BEA)
1.0M
100 to 499
• Small businesses created 51,068 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 10,912 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 5,321 net jobs. (Source: BDS)
20 to 99
500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
25
Colorado Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 123,299 loans under $100,000 (valued at $1.7 billion) were issued by Colorado lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $48,017 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,286. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Colorado Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
12.3K
153.2K
Asian
18.6K
108.7K
Hawaiian/Pacific Islander
769
4.6K 705.2K
Hispanic
51.1K
Native American/Alaskan
5.9K
37.8K
Some other race
17.1K
166.4K
Nonveteran
468.9K
3.6M
Veteran
51.6K
405.9K
Minority
85.8K
1.1M
Nonminority
441.7K
2.9M
Female
194.4K
2.0M
Male
283.9K
2.0M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 10 female-owned firms per 100 working age females or 194.4K ÷2.0M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Colorado Quarterly Startups and Exits startups
• In the second quarter of 2015, 5,228 establishments started up, generating 15,223 new jobs in Colorado. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
5.5K
• In the same period, 4,675 establishments exited resulting in 15,557 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
5.0K
4.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
4.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
3.5K
2000
SBA Office of Advocacy
2008
2016
26
Colorado Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 5,810 companies exported goods from Colorado in 2014. Among these, 5,071, or 87.3%, were small firms; they
generated 31.9% of Colorado’s $7.7 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Colorado Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Construction Professional, Scientific, and Technical Services Retail Trade Other Services (Except Public Administration) Administrative, Support, and Waste Management Manufacturing Wholesale Trade Finance and Insurance Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Transportation and Warehousing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
160,575 143,024 110,105 105,744 93,168 83,164 69,106 62,083 47,574 31,803 29,458 28,577 27,709 21,610 19,083 13,515 2,914 1,272 1,059,196
260,852 279,544 135,889 193,812 262,395 101,857 236,838 120,963 94,793 103,532 50,399 41,061 52,402 65,352 83,495 30,741 s 1,693 2,181,455
62% 51% 81% 55% 36% 82% 29% 51% 50% 31% 58% 70% 53% 33% 23% 44% 75% 49%
Figure 4: Colorado Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
27
29% to 55%
70% to 83%
55% to 70%
83% to 100%
Colorado Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Colorado Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Finance and Insurance Transportation and Warehousing Educational Services Accommodation and Food Services Wholesale Trade Manufacturing Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
22,785 12,320 16,100 8,407 11,786 12,435 7,391 2,459 5,724 2,873 2,294 9,621 5,399 4,489 1,696 1,129 306 195 127,481
21,427 11,447 14,890 8,061 10,706 11,067 6,572 2,183 5,326 2,519 1,916 7,213 4,498 3,641 1,428 957 293 151 114,633
82,597 57,569 53,046 59,937 37,006 32,879 32,997 27,767 15,957 17,591 14,870 5,849 7,155 7,507 7,568 4,068 3,994 372 468,729
105,382 69,889 69,146 68,344 48,792 45,314 40,388 30,226 21,681 20,464 17,164 15,470 12,554 11,996 9,264 5,197 4,300 567 596,210
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
28
Colorado Small Business Profile, 2017
CONNECTICUT 339,231 99.4%
732,750 49.3%
Small Businesses of Connecticut Businesses
DIVERSITY
EMPLOYMENT
10,645 net new jobs
Small Business Employees of Connecticut Employees
TRADE
56,093
88.9%
minority-owned businesses
of Connecticut exporters
OVERALL C ONNECTICUT E CONOMY • In the second quarter of 2016, Connecticut grew at an annual rate of 1.6%, which was faster than the overall US growth rate of 1.2%. Connecticut’s 2015 growth rate of 0.7% was up from the 2014 rate of -0.4%. (Source: BEA) • In November 2016, the unemployment rate was 4.7%, down from 5.4% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Connecticut Employment by Business Size • Connecticut small businesses employed 732,750 people, (Employees) or 49.3% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.5M
more than 500
• During the year ending November 2016, private-sector em ployment increased 1.6%. This was above the previous year’s increase of 0.2%. (Source: CPS)
1.0M
• The number of proprietors increased in 2015 by 2.7% rela tive to the previous year. (Source: BEA)
100 to 499 500.0K
• Small businesses created 10,645 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 5,014 net jobs. The largest losses were in firms employing 250 to 499 employees, which lost 299 net jobs. (Source: BDS)
20 to 99
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
29
Connecticut Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 68,310 loans under $100,000 (valued at $976.9 million) were issued by Connecticut lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $61,405 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $30,520. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Connecticut Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
17.7K
271.2K
Asian
13.8K
106.9K
Hawaiian/Pacific Islander
272
1.3K 337.8K
Hispanic
24.0K
Native American/Alaskan
1.7K
6.5K
Some other race
10.4K
130.5K
Nonveteran
280.8K
2.6M
Veteran
31.0K
228.3K
Minority
56.1K
748.8K
Nonminority
259.2K
2.1M
Female
106.6K
1.5M
Male
187.5K
1.4M
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 106.6K ÷1.5M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Connecticut Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,277 establishments started up, generating 8,222 new jobs in Connecticut. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 2,559 establishments exited resulting in 6,555 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.3K
2.2K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.1K
2.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
30
Connecticut Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 5,717 companies exported goods from Connecticut in 2014. Among these, 5,081, or 88.9%, were small firms;
they generated 23.4% of Connecticut’s $14.8 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Connecticut Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Manufacturing Retail Trade Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Educational Services Arts, Entertainment, and Recreation Transportation and Warehousing Information Real Estate and Rental and Leasing Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
137,991 90,957 77,584 69,549 54,455 52,717 45,215 40,350 39,546 31,390 23,947 22,171 14,908 13,079 12,334 1,049 288 264 732,750
276,251 138,818 151,363 186,153 103,077 59,213 51,805 71,695 85,222 113,514 74,744 27,620 41,152 40,951 19,023 s 288 1,903 1,485,426
50% 66% 51% 37% 53% 89% 87% 56% 46% 28% 32% 80% 36% 32% 65% 100% 14% 49%
Figure 4: Connecticut Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
31
50% to 57%
63% to 70%
57% to 63%
45%
Connecticut Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Connecticut Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Construction Other Services (Except Public Administration) Real Estate and Rental and Leasing Health Care and Social Assistance Retail Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Finance and Insurance Educational Services Accommodation and Food Services Transportation and Warehousing Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
8,272 7,755 8,642 2,333 7,285 8,193 4,509 1,483 3,212 1,285 6,931 1,183 3,386 3,809 917 72 45 43 69,386
7,600 7,261 8,114 2,183 5,958 7,352 4,046 1,203 2,834 1,033 5,529 949 2,688 2,780 734 70 27 39 60,572
45,993 32,221 31,227 35,419 24,496 18,854 20,078 16,270 10,766 10,149 3,687 7,342 4,431 3,485 3,906 1,213 237 71 269,845
54,265 39,976 39,869 37,752 31,781 27,047 24,587 17,753 13,978 11,434 10,618 8,525 7,817 7,294 4,823 1,285 282 114 339,231
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
32
Connecticut Small Business Profile, 2017
DELAWARE 77,306 98.3%
176,837 45.2%
Small Businesses of Delaware Businesses
DIVERSITY
EMPLOYMENT
14,431
6,508
minority-owned businesses
net new jobs
Small Business Employees of Delaware Employees
TRADE
87.1% of Delaware exporters
OVERALL D ELAWARE E CONOMY • In the second quarter of 2016, Delaware grew at an annual rate of 1.5%, which was faster than the overall US growth rate of 1.2%. Delaware’s 2015 growth rate of 2.7% was down from the 2014 rate of 4.8%. (Source: BEA) • In November 2016, the unemployment rate was 4.3%, down from 4.9% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Delaware Employment by Business Size (Employees)
• Delaware small businesses employed 176,837 people, or 45.2% of the private workforce, in 2014. (Source: SUSB)
400K
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
300K
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.7%. This was below the previous year’s increase of 3.4%. (Source: CPS)
200K
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499
• Small businesses created 6,508 net jobs in 2014. Among the seven BDS size-classes, firms employing 50 to 99 em ployees experienced the largest gains, adding 1,781 net jobs. The smallest gains were in firms employing 100 to 249 employees, which added 72 net jobs. (Source: BDS)
20 to 99
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
33
Delaware Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 increased. (Source: FDIC) • In 2014, 14,626 loans under $100,000 (valued at $222.5 million) were issued by Delaware lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $48,649 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $24,337. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Delaware Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
7.8K
144.5K
Asian
3.8K
23.0K
Hawaiian/Pacific Islander
70
276 48.8K
Hispanic
2.7K
Native American/Alaskan
297
2.4K
Some other race
1.0K
14.1K
Nonveteran
60.1K
641.8K
Veteran
7.2K
76.8K
Minority
14.4K
226.1K
Nonminority
54.5K
492.5K
Female
23.9K
375.0K
Male
38.1K
343.6K
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 23.9K ÷375.0K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Delaware Quarterly Startups and Exits startups
• In the second quarter of 2015, 763 establishments started up, generating 2,614 new jobs in Delaware. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
800
• In the same period, 746 establishments exited resulting in 2,636 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
750
700
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
650
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
600
2000
SBA Office of Advocacy
2008
2016
34
Delaware Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,707 companies exported goods from Delaware in 2014. Among these, 1,486, or 87.1%, were small firms; they
generated 23.1% of Delaware’s $4.8 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Delaware Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Administrative, Support, and Waste Management Manufacturing Wholesale Trade Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
28,561 24,352 17,669 17,462 16,483 13,908 11,330 8,901 6,924 5,862 5,329 5,260 4,961 4,758 2,617 136 120 s 176,837
64,183 37,808 54,479 18,489 33,125 14,740 26,555 25,665 16,148 39,140 13,313 6,668 6,135 8,758 8,280 161 120 2,375 391,636
44% 64% 32% 94% 50% 94% 43% 35% 43% 15% 40% 79% 81% 54% 32% 84% 100% 45%
Figure 4: Delaware Small Business Percent of Employment by County
Small Business Employment 43%
56%
49%
SBA Office of Advocacy
35
Delaware Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Delaware Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Other Services (Except Public Administration) Construction Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Finance and Insurance Transportation and Warehousing Accommodation and Food Services Educational Services Wholesale Trade Information Manufacturing Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
2,410 853 2,020 2,136 2,177 1,770 1,142 388 986 526 1,576 269 818 264 503 36 20 12 18,228
2,157 768 1,854 1,934 1,926 1,448 991 327 854 437 1,200 207 648 219 384 36 15 10 15,704
8,537 8,935 7,712 5,957 5,283 4,285 4,319 3,397 2,432 2,292 768 1,924 1,146 947 650 437 46 11 59,078
10,947 9,788 9,732 8,093 7,460 6,055 5,461 3,785 3,418 2,818 2,344 2,193 1,964 1,211 1,153 473 66 23 77,306
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
36
Delaware Small Business Profile, 2017
DISTRICT OF COLUMBIA 71,146 98.2%
240,441 48.5%
Small Businesses of District of Columbia Businesses
DIVERSITY
EMPLOYMENT
5,821 net new jobs
Small Business Employees of District of Columbia Employees
TRADE
29,958
80.1%
minority-owned businesses
of District of Columbia exporters
OVERALL D ISTRICT OF C OLUMBIA E CONOMY • In the second quarter of 2016, the District of Columbia grew at an annual rate of 1.7%, which was faster than the overall US growth rate of 1.2%. The District of Columbia’s 2015 growth rate of 2.2% was up from the 2014 rate of 1.6%. (Source: BEA) • In November 2016, the unemployment rate was 6.0%, down from 6.6% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT • District of Columbia small businesses employed 240,441 people, or 48.5% of the private workforce, in 2014. (Source: SUSB)
Figure 1: District of Columbia Employment by Business Size (Employees) 500K
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
400K
300K
• During the year ending November 2016, private-sector em ployment increased 2.0%. This was below the previous year’s increase of 2.8%. (Source: CPS)
200K
• The number of proprietors increased in 2015 by 3.7% rela tive to the previous year. (Source: BEA)
more than 500
100 to 499 100K
20 to 99 fewer than 20
0
1998
2006
2014
• Small businesses created 5,821 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 1,781 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 117 net jobs. (Source: BDS)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
37
District of Columbia Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 11,502 loans under $100,000 (valued at $164.6 million) were issued by District of Columbia lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $67,697 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $31,744. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: District of Columbia Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
22.1K
249.9K
Asian
4.0K
19.7K
Hawaiian/Pacific Islander
57
243
Hispanic
4.2K
44.4K
Native American/Alaskan
455
1.9K
Some other race
1.8K
15.8K
Nonveteran
54.0K
482.6K
Veteran
5.0K
30.8K
Minority
30.0K
321.4K
Nonminority
29.3K
192.0K
Female
27.0K
273.7K
Male
30.1K
239.7K
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 10 female-owned firms per 100 working age females or 27.0K ÷273.7K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: District of Columbia Quarterly Startups and Exits startups
• In the second quarter of 2015, 977 establishments started up, generating 4,979 new jobs in the District of Columbia. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 1,135 establishments exited resulting in 4,850 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
900 850
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
800 750
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
700
2000
SBA Office of Advocacy
2008
2016
38
District of Columbia Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 765 companies exported goods from the District of Columbia in 2014. Among these, 613, or 80.1%, were small firms; they generated 89.4% of the District of Columbia’s $223.0 million in total known exports. (Source: ITA) S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: District of Columbia Employment by Industry, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Accommodation and Food Services Health Care and Social Assistance Administrative, Support, and Waste Management Educational Services Construction Retail Trade Real Estate and Rental and Leasing Information Arts, Entertainment, and Recreation Finance and Insurance Wholesale Trade Transportation and Warehousing Manufacturing Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
58,974 43,884 36,766 30,460 14,647 14,351 7,799 7,203 6,463 6,259 4,812 3,715 2,229 1,077 718 s s s 240,441
74,269 99,978 64,885 66,564 30,590 49,292 9,131 21,074 10,850 22,222 7,207 17,363 4,429 2,861 940 s s s 495,453
79% 44% 57% 46% 48% 29% 85% 34% 60% 28% 67% 21% 50% 38% 76% 49%
Figure 4: District of Columbia Small Business Percent of Employment by County
Small Business Employment DC
SBA Office of Advocacy
39
43% to 49%
59% to 83%
49% to 58%
58%
District of Columbia Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: District of Columbia Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Health Care and Social Assistance Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Administrative, Support, and Waste Management Transportation and Warehousing Educational Services Retail Trade Accommodation and Food Services Construction Information Finance and Insurance Wholesale Trade Manufacturing Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
4,038 3,605 1,674 710 272 642 106 467 1,234 1,805 431 378 387 247 90 5 1 3 16,133
3,307 2,789 1,361 593 223 440 83 296 1,105 1,226 334 271 276 199 82 5 1 2 12,680
15,517 7,329 4,696 4,995 4,636 3,425 3,317 2,820 1,866 1,163 2,070 1,531 956 297 304 55 32 4 55,013
19,555 10,934 6,370 5,705 4,908 4,067 3,423 3,287 3,100 2,968 2,501 1,909 1,343 544 394 60 33 7 71,146
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
40
District of Columbia Small Business Profile, 2017
FLORIDA 2.4 million 99.8%
3.2 million 42.8%
Small Businesses of Florida Businesses
DIVERSITY
EMPLOYMENT
926,002
102,736
minority-owned businesses
net new jobs
Small Business Employees of Florida Employees
TRADE
95.3% of Florida exporters
OVERALL F LORIDA E CONOMY • In the second quarter of 2016, Florida grew at an annual rate of 2.3%, which was faster than the overall US growth rate of 1.2%. Florida’s 2015 growth rate of 4.0% was up from the 2014 rate of 2.9%. (Source: BEA) • In November 2016, the unemployment rate was 4.9%, down from 5.1% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Florida Employment by Business Size (Employees)
• Florida small businesses employed 3.2 million people, or 42.8% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
6M
more than 500
• During the year ending November 2016, private-sector em ployment increased 2.0%. This was above the previous year’s increase of 1.9%. (Source: CPS)
4M
• The number of proprietors increased in 2015 by 3.0% rela tive to the previous year. (Source: BEA)
100 to 499 2M
• Small businesses created 102,736 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 24,261 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 11,065 net jobs. (Source: BDS)
20 to 99 fewer than 20
0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
41
Florida Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 389,276 loans under $100,000 (valued at $4.7 billion) were issued by Florida lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $40,952 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $18,417. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Florida Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
251.2K
2.3M
Asian
80.9K
378.2K
Hawaiian/Pacific Islander
3.1K
8.8K
Hispanic
604.1K
3.3M
Native American/Alaskan
11.9K
46.6K
Some other race
87.1K
373.2K
Nonveteran
1.8M
13.8M
Veteran
185.6K
1.6M
Minority
926.0K
6.0M
Nonminority
1.1M
9.3M
Female
807.7K
7.9M
Male
1.1M
7.4M
No. of firms relative to working population
0
5
10
15
20
25
30
35
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 10 female-owned firms per 100 working age females or 807.7K ÷7.9M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Florida Quarterly Startups and Exits startups
• In the second quarter of 2015, 19,910 establishments started up, generating 74,009 new jobs in Florida. Star tups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
20K
• In the same period, 16,514 establishments exited resulting in 63,804 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
18K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
16K
14K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
42
Florida Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 61,307 companies exported goods from Florida in 2014. Among these, 58,404, or 95.3%, were small firms; they
generated 62.9% of Florida’s $53.4 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Florida Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Professional, Scientific, and Technical Services Retail Trade Construction Other Services (Except Public Administration) Administrative, Support, and Waste Management Wholesale Trade Manufacturing Finance and Insurance Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Educational Services Transportation and Warehousing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
456,894 447,091 315,172 302,979 298,732 248,767 242,468 188,770 156,050 108,658 96,889 95,753 82,354 71,718 36,119 6,976 6,683 1,652 3,182,562
1,026,665 864,137 469,687 1,026,295 336,909 306,951 1,405,377 310,776 290,647 343,371 157,285 184,054 157,870 213,677 168,244 9,051 26,665 4,343 7,441,584
45% 52% 67% 30% 89% 81% 17% 61% 54% 32% 62% 52% 52% 34% 21% 77% 25% 38% 43%
Figure 4: Florida Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
43
33% to 51%
56% to 66%
51% to 56%
66% to 100%
Florida Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Florida Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Administrative, Support, and Waste Management Construction Health Care and Social Assistance Retail Trade Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Wholesale Trade Accommodation and Food Services Educational Services Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
41,939 68,938 26,672 29,491 45,859 46,290 46,153 11,673 7,255 17,166 26,615 28,260 5,828 11,730 4,591 969 273 206 419,974
39,456 65,711 25,757 27,077 42,648 42,143 43,224 10,694 6,220 16,064 24,008 21,985 4,813 9,786 4,118 901 225 172 385,809
339,617 241,197 234,216 226,045 170,898 168,427 140,619 106,382 82,200 61,571 40,215 30,903 42,542 23,013 23,632 14,192 1,613 1,075 1,948,357
381,556 310,135 260,888 255,536 216,757 214,717 186,772 118,055 89,455 78,737 66,830 59,163 48,370 34,743 28,223 15,161 1,886 1,281 2,368,331
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
44
Florida Small Business Profile, 2017
GEORGIA 1.0 million 99.6%
1.6 million 43.7%
Small Businesses of Georgia Businesses
DIVERSITY
EMPLOYMENT
371,524
41,287
minority-owned businesses
net new jobs
Small Business Employees of Georgia Employees
TRADE
88.5% of Georgia exporters
OVERALL G EORGIA E CONOMY • In the second quarter of 2016, Georgia grew at an annual rate of 0.4%, which was slower than the overall US growth rate of 1.2%. Georgia’s 2015 growth rate of 2.6% was up from the 2014 rate of 2.5%. (Source: BEA) • In November 2016, the unemployment rate was 5.3%, down from 5.5% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Georgia Employment by Business Size (Employees)
• Georgia small businesses employed 1.6 million people, or 43.7% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
3M
more than 500
• During the year ending November 2016, private-sector em ployment increased 4.2%. This was above the previous year’s increase of 1.8%. (Source: CPS)
2M
• The number of proprietors increased in 2015 by 3.0% rela tive to the previous year. (Source: BEA)
100 to 499 1M
• Small businesses created 41,287 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 9,738 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 3,892 net jobs. (Source: BDS)
20 to 99 fewer than 20
0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
45
Georgia Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 149,865 loans under $100,000 (valued at $2.0 billion) were issued by Georgia lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $42,853 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,975. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Georgia Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
256.8K
2.2M
Asian
56.8K
248.8K
Hawaiian/Pacific Islander
702
3.6K 565.0K
Hispanic
56.3K
Native American/Alaskan
6.1K
19.7K
Some other race
22.9K
209.6K
Nonveteran
799.7K
6.8M
Veteran
96.7K
701.8K
Minority
371.5K
3.1M
Nonminority
537.9K
4.4M
Female
376.4K
3.9M
Male
479.6K
3.6M
No. of firms relative to working population
0
5
10
15
20
25
30
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 10 female-owned firms per 100 working age females or 376.4K ÷3.9M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Georgia Quarterly Startups and Exits startups
• In the second quarter of 2015, 7,049 establishments started up, generating 27,131 new jobs in Georgia. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
7.5K
• In the same period, 6,908 establishments exited resulting in 26,523 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
7.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
6.5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
6.0K
2000
SBA Office of Advocacy
2008
2016
46
Georgia Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 14,547 companies exported goods from Georgia in 2014. Among these, 12,869, or 88.5%, were small firms; they
generated 30.1% of Georgia’s $35.9 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Georgia Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Professional, Scientific, and Technical Services Retail Trade Other Services (Except Public Administration) Construction Manufacturing Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Educational Services Transportation and Warehousing Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
231,701 206,099 140,580 139,502 129,886 123,047 120,589 105,505 102,213 54,032 41,172 41,044 37,836 28,190 23,897 7,207 6,674 2,436 1,551,537
390,371 462,968 247,331 453,396 153,866 154,932 352,455 341,747 199,360 167,775 81,980 167,898 58,814 44,990 117,588 7,625 23,042 4,845 3,551,163
59% 45% 57% 31% 84% 79% 34% 31% 51% 32% 50% 24% 64% 63% 20% 95% 29% 50% 44%
Figure 4: Georgia Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
47
22% to 48%
60% to 77%
48% to 60%
77% to 100%
Georgia Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Georgia Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Administrative, Support, and Waste Management Health Care and Social Assistance Retail Trade Real Estate and Rental and Leasing Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Educational Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
19,173 26,140 16,009 9,571 17,957 20,447 8,030 4,656 2,640 7,361 13,721 2,580 10,167 5,941 1,989 901 115 104 167,506
17,779 24,422 14,581 8,355 15,683 18,942 7,548 3,952 2,310 6,706 10,244 2,083 8,373 4,381 1,626 806 62 80 148,330
162,916 103,207 95,490 97,950 69,943 62,458 72,417 44,352 38,954 22,053 14,638 23,309 13,171 10,615 10,744 5,911 671 153 848,952
182,089 129,347 111,499 107,521 87,900 82,905 80,447 49,008 41,594 29,414 28,359 25,889 23,338 16,556 12,733 6,812 786 257 1,016,458
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
48
Georgia Small Business Profile, 2017
HAWAII 126,600 99.3%
267,796 51.6%
Small Businesses of Hawaii Businesses
DIVERSITY
EMPLOYMENT
74,187
6,672
minority-owned businesses
net new jobs
Small Business Employees of Hawaii Employees
TRADE
86.5% of Hawaii exporters
OVERALL H AWAII E CONOMY • In the second quarter of 2016, Hawaii grew at an annual rate of 0.3%, which was slower than the overall US growth rate of 1.2%. Hawaii’s 2015 growth rate of 2.3% was up from the 2014 rate of 0.3%. (Source: BEA) • In November 2016, the unemployment rate was 3.0%, down from 3.3% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Hawaii Employment by Business Size (Employees)
• Hawaii small businesses employed 267,796 people, or 51.6% of the private workforce, in 2014. (Source: SUSB)
500K
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
more than 500
400K
• During the year ending November 2016, private-sector em ployment increased 2.8%. This was above the previous year’s increase of 2.1%. (Source: CPS)
300K
100 to 499
• The number of proprietors increased in 2015 by 3.6% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses created 6,672 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 2,029 net jobs. The largest losses were in firms employing 5 to 9 employees, which lost 301 net jobs. (Source: BDS)
200K
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
49
Hawaii Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 23,079 loans under $100,000 (valued at $330.3 million) were issued by Hawaii lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $47,728 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,566. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Hawaii Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
1.5K
17.9K
Asian
61.0K
458.4K
Hawaiian/Pacific Islander
14.5K
99.3K 81.5K
Hispanic
5.5K
Native American/Alaskan
1.5K
2.8K
Some other race
1.8K
12.8K
Nonveteran
101.2K
981.3K
Veteran
11.1K
112.6K
Minority
74.2K
819.9K
Nonminority
38.4K
274.0K
Female
44.4K
548.8K
Male
60.3K
545.0K
No. of firms relative to working population
0
10
20
30
40
50
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 44.4K ÷548.8K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Hawaii Quarterly Startups and Exits startups
• In the second quarter of 2015, 831 establishments started up, generating 2,973 new jobs in Hawaii. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
850
• In the same period, 797 establishments exited resulting in 3,001 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
800
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
750
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
700
2000
SBA Office of Advocacy
2008
2016
50
Hawaii Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 883 companies exported goods from Hawaii in 2014. Among these, 764, or 86.5%, were small firms; they
generated 71.8% of Hawaii’s $913.0 million in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Hawaii Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Retail Trade Construction Other Services (Except Public Administration) Administrative, Support, and Waste Management Professional, Scientific, and Technical Services Wholesale Trade Transportation and Warehousing Arts, Entertainment, and Recreation Manufacturing Educational Services Real Estate and Rental and Leasing Finance and Insurance Information Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
51,249 33,446 27,506 23,654 22,115 21,076 17,188 13,626 11,440 9,221 9,028 8,645 7,804 7,206 1,960 529 143 s 267,796
104,888 68,461 70,860 27,802 25,549 57,775 23,499 19,068 29,238 11,344 11,958 18,687 12,186 19,244 8,228 3,648 143 152 519,130
49% 49% 39% 85% 87% 36% 73% 71% 39% 81% 75% 46% 64% 37% 24% 15% 100% 52%
Figure 4: Hawaii Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
51
1000%
55%
53%
56%
Hawaii Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Hawaii Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Construction Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Accommodation and Food Services Wholesale Trade Transportation and Warehousing Finance and Insurance Educational Services Manufacturing Agriculture, Forestry, and Fishing and Hunting Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
3,050 2,765 1,530 2,623 2,853 2,658 1,455 478 2,739 1,298 622 653 453 715 29 248 17 7 24,056
2,804 2,531 1,427 2,314 2,586 2,378 1,210 356 2,045 1,077 458 566 352 589 26 216 12 5 20,977
16,168 15,186 11,689 10,067 7,874 7,544 8,606 6,378 1,887 2,672 3,299 2,806 2,676 2,224 2,110 1,168 182 8 102,544
19,218 17,951 13,219 12,690 10,727 10,202 10,061 6,856 4,626 3,970 3,921 3,459 3,129 2,939 2,139 1,416 199 15 126,600
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
52
Hawaii Small Business Profile, 2017
IDAHO 154,410 99.2%
293,893 55.4%
Small Businesses of Idaho Businesses
DIVERSITY
EMPLOYMENT
10,585
11,243
minority-owned businesses
net new jobs
Small Business Employees of Idaho Employees
TRADE
83.8% of Idaho exporters
OVERALL I DAHO E CONOMY • In the second quarter of 2016, Idaho grew at an annual rate of 2.8%, which was faster than the overall US growth rate of 1.2%. Idaho’s 2015 growth rate of 2.7% was up from the 2014 rate of 1.8%. (Source: BEA) • In November 2016, the unemployment rate was 3.8%, down from 3.9% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Idaho Employment by Business Size (Employees)
• Idaho small businesses employed 293,893 people, or 55.4% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
500K
more than 500 400K
300K
• During the year ending November 2016, private-sector em ployment increased 1.6%. This was below the previous year’s increase of 3.0%. (Source: CPS)
100 to 499
200K
• The number of proprietors increased in 2015 by 2.7% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses created 11,243 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 2,324 net jobs. The smallest gains were in firms employing 50 to 99 employees, which added 319 net jobs. (Source: BDS)
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
53
Idaho Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 30,854 loans under $100,000 (valued at $452.6 million) were issued by Idaho lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $41,764 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,927. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Idaho Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
571
6.3K
Asian
2.3K
15.3K
Hawaiian/Pacific Islander
183
1.7K
Hispanic
6.3K
110.5K
Native American/Alaskan
1.5K
14.1K
Some other race
2.6K
23.3K
Nonveteran
124.1K
1.1M
Veteran
12.8K
125.9K
Minority
10.6K
163.6K
Nonminority
130.7K
1.0M
Female
45.1K
596.5K
Male
70.2K
591.9K
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 45.1K ÷596.5K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Idaho Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,560 establishments started up, generating 4,480 new jobs in Idaho. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
1.4K
• In the same period, 1,484 establishments exited resulting in 4,480 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.2K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.6K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.0K
2000
SBA Office of Advocacy
2008
2016
54
Idaho Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,816 companies exported goods from Idaho in 2014. Among these, 1,522, or 83.8%, were small firms; they
generated 26.6% of Idaho’s $4.9 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Idaho Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Manufacturing Professional, Scientific, and Technical Services Other Services (Except Public Administration) Wholesale Trade Administrative, Support, and Waste Management Transportation and Warehousing Finance and Insurance Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Educational Services Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
49,090 38,745 33,658 31,076 25,592 19,011 16,829 16,123 15,136 10,926 8,596 6,834 5,914 5,005 4,418 2,921 1,710 774 293,893
87,810 57,533 79,518 32,405 55,281 34,193 18,959 29,464 36,605 17,500 22,628 8,973 6,926 12,851 11,994 3,019 2,978 s 530,490
56% 67% 42% 96% 46% 56% 89% 55% 41% 62% 38% 76% 85% 39% 37% 97% 57% 55%
Figure 4: Idaho Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
55
40% to 63%
77% to 95%
63% to 77%
95% to 100%
Idaho Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Idaho Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Manufacturing Educational Services Wholesale Trade Agriculture, Forestry, and Fishing and Hunting Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
3,128 5,902 3,966 1,888 3,686 4,213 1,982 1,534 707 1,367 2,755 1,590 420 1,379 436 388 113 107 35,525
2,958 5,600 3,731 1,818 3,247 3,678 1,819 1,395 626 1,257 2,202 1,262 336 1,029 411 311 92 92 31,939
17,308 13,532 15,111 15,675 12,729 9,048 7,835 4,750 5,468 3,656 1,547 2,709 3,203 1,965 2,583 1,457 178 131 118,885
20,436 19,434 19,077 17,563 16,415 13,261 9,817 6,284 6,175 5,023 4,302 4,299 3,623 3,344 3,019 1,845 291 238 154,410
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
56
Idaho Small Business Profile, 2017
ILLINOIS 1.2 million 99.6%
2.4 million 46.0%
Small Businesses of Illinois Businesses
DIVERSITY
EMPLOYMENT
311,609
43,836
minority-owned businesses
net new jobs
Small Business Employees of Illinois Employees
TRADE
90.0% of Illinois exporters
OVERALL I LLINOIS E CONOMY • In the second quarter of 2016, Illinois grew at an annual rate of 1.0%, which was slower than the overall US growth rate of 1.2%. Illinois’s 2015 growth rate of 1.8% was up from the 2014 rate of 1.1%. (Source: BEA) • In November 2016, the unemployment rate was 5.6%, down from 6.1% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Illinois Employment by Business Size (Employees)
• Illinois small businesses employed 2.4 million people, or 46.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
5M
more than 500
4M
• During the year ending November 2016, private-sector em ployment increased 0.9%. This was above the previous year’s increase of 0.8%. (Source: CPS)
3M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499 2M
• Small businesses created 43,836 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 15,992 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 496 net jobs. (Source: BDS)
20 to 99 1M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
57
Illinois Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 192,611 loans under $100,000 (valued at $2.5 billion) were issued by Illinois lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $51,161 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,481. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Illinois Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
144.8K
1.4M
Asian
72.6K
477.7K
Hawaiian/Pacific Islander
871
2.5K
Hispanic
92.2K
1.4M
Native American/Alaskan
5.6K
21.1K
Some other race
36.7K
545.2K
Nonveteran
1.0M
9.3M
Veteran
89.0K
755.3K
Minority
311.6K
3.4M
Nonminority
794.0K
6.7M
Female
417.4K
5.2M
Male
608.6K
4.9M
No. of firms relative to working population
0
10
20
30
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 417.4K ÷5.2M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Illinois Quarterly Startups and Exits startups
• In the second quarter of 2015, 9,675 establishments started up, generating 39,402 new jobs in Illinois. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 7,103 establishments exited resulting in 26,767 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
8.5K
8.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
7.5K
7.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
6.5K
2000
SBA Office of Advocacy
2008
2016
58
Illinois Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 23,252 companies exported goods from Illinois in 2014. Among these, 20,926, or 90.0%, were small firms; they
generated 24.6% of Illinois’s $60.8 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Illinois Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Manufacturing Professional, Scientific, and Technical Services Other Services (Except Public Administration) Retail Trade Wholesale Trade Construction Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
350,892 303,329 265,564 217,579 207,766 202,551 171,295 156,609 152,153 104,641 76,973 70,145 50,923 49,282 35,181 5,375 3,282 1,285 2,441,995
787,928 498,190 544,488 419,062 244,981 605,655 314,398 182,749 471,702 328,292 231,473 164,407 76,466 78,114 124,909 9,089 28,412 2,020 5,312,290
45% 61% 49% 52% 85% 33% 54% 86% 32% 32% 33% 43% 67% 63% 28% 59% 12% 64% 46%
Figure 4: Illinois Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
59
35% to 52%
63% to 79%
52% to 63%
79% to 100%
Illinois Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Illinois Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Health Care and Social Assistance Construction Real Estate and Rental and Leasing Transportation and Warehousing Retail Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Educational Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
29,237 36,191 25,855 27,954 9,679 12,504 23,440 14,103 4,199 11,853 20,760 3,757 14,716 11,785 2,785 293 452 151 249,505
27,076 33,595 22,442 26,333 9,024 11,398 21,034 12,390 3,582 10,599 16,363 2,888 11,909 8,416 2,280 278 395 105 220,543
154,196 127,454 95,732 93,264 89,810 82,046 69,005 76,565 49,077 30,675 13,124 29,372 14,550 10,574 11,744 5,095 2,320 550 955,153
183,433
163,645
121,587
121,218
99,489
94,550
92,445
90,668
53,276
42,528
33,884
33,129
29,266
22,359
14,529
5,388
2,772
701
1,204,658
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
60
Illinois Small Business Profile, 2017
INDIANA 504,377 99.4%
1.2 million 45.5%
Small Businesses of Indiana Businesses
DIVERSITY
EMPLOYMENT
61,209
16,878
minority-owned businesses
net new jobs
Small Business Employees of Indiana Employees
TRADE
85.0% of Indiana exporters
OVERALL I NDIANA E CONOMY • In the second quarter of 2016, Indiana grew at an annual rate of 1.2%, which was the same as the overall US growth rate. Indiana’s 2015 growth rate of 1.4% was down from the 2014 rate of 2.1%. (Source: BEA) • In November 2016, the unemployment rate was 4.2%, down from 4.6% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Indiana Employment by Business Size (Employees)
• Indiana small businesses employed 1.2 million people, or 45.5% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.5M
2.0M
more than 500
• During the year ending November 2016, private-sector em ployment increased 2.4%. This was above the previous year’s increase of 2.1%. (Source: CPS)
1.5M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499
1.0M
• Small businesses created 16,878 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 6,186 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 775 net jobs. (Source: BDS)
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
61
Indiana Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 71,526 loans under $100,000 (valued at $1.1 billion) were issued by Indiana lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,781 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,524. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Indiana Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
34.0K
428.1K
Asian
12.2K
80.4K
Hawaiian/Pacific Islander
218
1.3K
Hispanic
13.6K
249.1K
Native American/Alaskan
2.4K
12.1K
Some other race
5.1K
97.6K
Nonveteran
411.9K
4.6M
Veteran
45.1K
468.6K
Minority
61.2K
826.7K
Nonminority
404.4K
4.2M
Female
162.7K
2.6M
Male
252.8K
2.5M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 162.7K ÷2.6M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Indiana Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,986 establishments started up, generating 10,527 new jobs in Indiana. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
3.5K
• In the same period, 2,828 establishments exited resulting in 11,022 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
3.4K 3.3K 3.2K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.1K 3.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2.9K
2000
SBA Office of Advocacy
2008
2016
62
Indiana Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 8,585 companies exported goods from Indiana in 2014. Among these, 7,295, or 85.0%, were small firms; they
generated 16.5% of Indiana’s $33.1 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Indiana Employment by Industry, 2014
Industry
Manufacturing Health Care and Social Assistance Accommodation and Food Services Retail Trade Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Transportation and Warehousing Finance and Insurance Arts, Entertainment, and Recreation Educational Services Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
178,174 166,165 151,294 111,746 107,536 92,671 71,862 67,090 61,097 41,574 37,778 23,652 23,015 22,423 12,609 3,180 3,060 981 1,183,203
475,831 403,393 268,596 314,603 125,785 115,070 110,540 116,315 197,122 119,402 98,648 34,015 67,208 31,845 43,512 6,008 14,853 1,469 2,602,895
37% 41% 56% 36% 85% 81% 65% 58% 31% 35% 38% 70% 34% 70% 29% 53% 21% 67% 45%
Figure 4: Indiana Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
63
31% to 46%
52% to 62%
46% to 52%
62% to 100%
Indiana Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Indiana Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Retail Trade Real Estate and Rental and Leasing Administrative, Support, and Waste Management Health Care and Social Assistance Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Manufacturing Educational Services Wholesale Trade Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
14,836 12,712 11,569 11,827 4,355 5,865 9,829 4,130 1,950 4,474 9,022 6,533 1,416 5,496 908 236 157 160 105,176
13,673 11,736 10,688 10,471 4,045 5,134 8,246 3,515 1,655 4,068 6,799 4,363 1,123 4,221 719 226 123 117 91,082
69,116 47,642 44,690 39,582 42,711 34,125 28,732 22,029 19,183 11,697 4,870 6,968 11,602 6,397 4,643 4,038 848 328 399,201
83,952 60,354 56,259 51,409 47,066 39,990 38,561 26,159 21,133 16,171 13,892 13,501 13,018 11,893 5,551 4,274 1,005 488 504,377
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
64
Indiana Small Business Profile, 2017
IOWA 266,382 99.3%
641,288 48.7%
Small Businesses of Iowa Businesses
DIVERSITY
EMPLOYMENT
14,686
6,126
minority-owned businesses
net new jobs
Small Business Employees of Iowa Employees
TRADE
82.9% of Iowa exporters
OVERALL I OWA E CONOMY • In the second quarter of 2016, Iowa grew at an annual rate of 1.3%, which was faster than the overall US growth rate of 1.2%. Iowa’s 2015 growth rate of 1.3% was down from the 2014 rate of 2.6%. (Source: BEA) • In November 2016, the unemployment rate was 3.8%, up from 3.5% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Iowa Employment by Business Size (Employees)
• Iowa small businesses employed 641,288 people, or 48.7% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.2M
1.0M
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.6%. This was above the previous year’s increase of 0.5%. (Source: CPS)
800.0K
600.0K
• The number of proprietors increased in 2015 by 2.1% rela tive to the previous year. (Source: BEA)
100 to 499
400.0K
• Small businesses created 6,126 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 2,733 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 304 net jobs. (Source: BDS)
20 to 99
200.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
65
Iowa Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 37,562 loans under $100,000 (valued at $556.5 million) were issued by Iowa lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,861 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $25,201. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Iowa Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
4.9K
60.8K
Asian
4.3K
41.9K
Hawaiian/Pacific Islander
101
1.0K 93.8K
Hispanic
4.7K
Native American/Alaskan
1.1K
6.9K
Some other race
2.0K
30.1K
Nonveteran
217.4K
2.2M
Veteran
25.8K
233.7K
Minority
14.7K
225.2K
Nonminority
236.2K
2.2M
Female
82.3K
1.2M
Male
135.0K
1.2M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 82.3K ÷1.2M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Iowa Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,767 establishments started up, generating 7,398 new jobs in Iowa. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
1.9K
• In the same period, 1,659 establishments exited resulting in 5,985 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.8K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.7K
1.6K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
66
Iowa Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 3,374 companies exported goods from Iowa in 2014. Among these, 2,798, or 82.9%, were small firms; they
generated 19.8% of Iowa’s $13.4 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Iowa Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Manufacturing Retail Trade Construction Other Services (Except Public Administration) Wholesale Trade Professional, Scientific, and Technical Services Finance and Insurance Administrative, Support, and Waste Management Transportation and Warehousing Arts, Entertainment, and Recreation Educational Services Information Real Estate and Rental and Leasing Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
112,401 81,159 69,620 64,528 52,256 47,454 45,718 33,804 32,071 25,842 20,909 14,482 12,240 9,578 9,376 1,817 1,697 1,497 641,288
216,134 116,374 209,256 180,421 59,784 51,213 66,512 51,433 90,882 74,073 55,733 21,366 45,058 30,883 12,403 2,581 7,964 2,056 1,316,447
52% 70% 33% 36% 87% 93% 69% 66% 35% 35% 38% 68% 27% 31% 76% 70% 21% 73% 49%
Figure 4: Iowa Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
67
31% to 59%
69% to 82%
59% to 69%
82% to 100%
Iowa Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Iowa Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Retail Trade Professional, Scientific, and Technical Services Health Care and Social Assistance Real Estate and Rental and Leasing Administrative, Support, and Waste Management Transportation and Warehousing Finance and Insurance Arts, Entertainment, and Recreation Accommodation and Food Services Wholesale Trade Manufacturing Agriculture, Forestry, and Fishing and Hunting Educational Services Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
8,395 8,305 7,110 5,597 5,398 2,209 2,969 3,001 3,393 1,393 5,406 3,050 2,745 296 641 739 75 65 60,474
7,969 7,751 6,276 5,165 4,262 2,077 2,666 2,709 3,036 1,226 4,219 2,280 1,906 277 502 611 39 45 53,092
31,449 26,267 22,580 20,268 20,053 22,898 13,990 10,362 7,733 9,438 2,722 3,104 3,017 4,990 4,587 2,198 206 46 205,908
39,844 34,572 29,690 25,865 25,451 25,107 16,959 13,363 11,126 10,831 8,128 6,154 5,762 5,286 5,228 2,937 281 111 266,382
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
68
Iowa Small Business Profile, 2017
KANSAS 250,021 99.2%
604,206 51.3%
Small Businesses of Kansas Businesses
DIVERSITY
EMPLOYMENT
26,104
10,723
minority-owned businesses
net new jobs
Small Business Employees of Kansas Employees
TRADE
82.6% of Kansas exporters
OVERALL K ANSAS E CONOMY • In the second quarter of 2016, Kansas grew at an annual rate of 2.3%, which was faster than the overall US growth rate of 1.2%. Kansas’s 2015 growth rate of 0.8% was down from the 2014 rate of 1.3%. (Source: BEA) • In November 2016, the unemployment rate was 4.3%, up from 4.0% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Kansas Employment by Business Size (Employees)
• Kansas small businesses employed 604,206 people, or 51.3% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1M
more than 500
• During the year ending November 2016, private-sector em ployment decreased 1.7%. This was below the previous year’s increase of 1.0%. (Source: CPS)
800K
600K
• The number of proprietors increased in 2015 by 2.1% rela tive to the previous year. (Source: BEA)
100 to 499 400K
• Small businesses created 10,723 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 2,707 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 812 net jobs. (Source: BDS)
20 to 99 200K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
69
Kansas Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 34,596 loans under $100,000 (valued at $456.4 million) were issued by Kansas lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $49,471 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,297. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Kansas Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
7.2K
122.2K
Asian
6.5K
53.2K
Hawaiian/Pacific Islander
150
1.3K
Hispanic
10.1K
188.6K
Native American/Alaskan
2.5K
17.5K
Some other race
3.3K
48.5K
Nonveteran
203.0K
2.0M
Veteran
21.6K
218.5K
Minority
26.1K
418.2K
Nonminority
204.1K
1.8M
Female
77.2K
1.1M
Male
124.8K
1.1M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 77.2K ÷1.1M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Kansas Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,962 establishments started up, generating 7,204 new jobs in Kansas. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.1K
• In the same period, 1,952 establishments exited resulting in 7,527 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.9K
1.8K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.7K
2000
SBA Office of Advocacy
2008
2016
70
Kansas Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 3,366 companies exported goods from Kansas in 2014. Among these, 2,781, or 82.6%, were small firms; they
generated 23.9% of Kansas’s $10.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Kansas Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
104,270 66,837 59,801 58,032 49,872 47,181 42,658 36,995 33,180 27,968 16,393 13,439 11,330 10,971 9,237 8,521 1,844 923 604,206
195,155 110,809 164,749 150,237 62,086 51,378 63,836 64,845 74,392 62,642 50,389 21,388 15,264 14,874 34,552 10,988 7,117 954 1,178,062
53% 60% 36% 39% 80% 92% 67% 57% 45% 45% 33% 63% 74% 74% 27% 78% 26% 97% 51%
Health Care and Social Assistance Accommodation and Food Services Manufacturing Retail Trade Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Figure 4: Kansas Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
38% to 64%
82% to 100%
64% to 82%
100%
71
Kansas Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Kansas Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Administrative, Support, and Waste Management Finance and Insurance Arts, Entertainment, and Recreation Transportation and Warehousing Mining, Quarrying, and Oil and Gas Extraction Accommodation and Food Services Wholesale Trade Educational Services Manufacturing Agriculture, Forestry, and Fishing and Hunting Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
7,399 6,387 6,771 6,621 2,426 5,558 3,012 3,326 947 1,916 982 4,126 2,913 635 2,332 193 594 48 56,102
6,912 5,895 6,226 5,898 2,283 4,541 2,632 2,984 803 1,679 870 3,072 2,194 492 1,649 182 458 23 48,919
28,454 24,452 20,466 20,080 20,009 15,628 15,158 7,562 9,481 7,298 6,521 2,401 3,200 4,784 2,900 3,201 2,181 143 193,919
35,853 30,839 27,237 26,701 22,435 21,186 18,170 10,888 10,428 9,214 7,503 6,527 6,113 5,419 5,232 3,394 2,775 191 250,021
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
72
Kansas Small Business Profile, 2017
KENTUCKY 344,108 99.3%
687,294 44.8%
Small Businesses of Kentucky Businesses
DIVERSITY
EMPLOYMENT
27,227
20
minority-owned businesses
net jobs lost
Small Business Employees of Kentucky Employees
TRADE
79.4% of Kentucky exporters
OVERALL K ENTUCKY E CONOMY • In the second quarter of 2016, Kentucky grew at an annual rate of 0.7%, which was slower than the overall US growth rate of 1.2%. Kentucky’s 2015 growth rate of 1.4% was up from the 2014 rate of 0.6%. (Source: BEA) • In November 2016, the unemployment rate was 4.8%, down from 5.7% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Kentucky Employment by Business Size (Employees)
• Kentucky small businesses employed 687,294 people, or 44.8% of the private workforce, in 2014. (Source: SUSB)
1.5M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB) more than 500
• During the year ending November 2016, private-sector em ployment increased 3.7%. This was above the previous year’s decrease of 1.0%. (Source: CPS)
1.0M
• The number of proprietors increased in 2015 by 2.6% rela tive to the previous year. (Source: BEA)
100 to 499 500.0K
• Small businesses lost 20 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 1,960 net jobs. The largest losses were in firms employing 5 to 9 employees, which lost 1,315 net jobs. (Source: BDS)
20 to 99
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
73
Kentucky Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 46,698 loans under $100,000 (valued at $683.1 million) were issued by Kentucky lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,605 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,396. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Kentucky Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
13.5K
257.9K
Asian
7.0K
37.0K
Hawaiian/Pacific Islander
255
1.8K 84.8K
Hispanic
5.2K
Native American/Alaskan
1.6K
7.2K
Some other race
2.0K
28.1K
Nonveteran
282.2K
3.1M
Veteran
33.1K
319.7K
Minority
27.2K
418.6K
Nonminority
295.6K
3.0M
Female
106.0K
1.8M
Male
183.6K
1.7M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 106.0K ÷1.8M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Kentucky Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,401 establishments started up, generating 9,133 new jobs in Kentucky. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.6K
• In the same period, 2,196 establishments exited resulting in 7,302 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.5K 2.4K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.3K 2.2K 2.1K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2.0K
2000
SBA Office of Advocacy
2008
2016
74
Kentucky Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 4,606 companies exported goods from Kentucky in 2014. Among these, 3,655, or 79.4%, were small firms; they
generated 30.2% of Kentucky’s $26.4 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Kentucky Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
102,347 98,699 75,227 70,804 55,115 52,894 47,893 35,727 35,169 27,028 20,292 14,690 13,698 12,431 8,092 7,782 2,563 1,305 687,294
247,078 165,482 203,584 226,808 63,470 65,840 71,029 69,522 108,726 71,574 87,263 29,317 17,009 17,747 36,085 15,950 8,301 1,362 1,535,417
41% 60% 37% 31% 87% 80% 67% 51% 32% 38% 23% 50% 81% 70% 22% 49% 31% 96% 45%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Figure 4: Kentucky Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
22% to 47%
58% to 71%
47% to 58%
71% to 100%
75
Kentucky Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Kentucky Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Retail Trade Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Real Estate and Rental and Leasing Health Care and Social Assistance Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Wholesale Trade Educational Services Manufacturing Agriculture, Forestry, and Fishing and Hunting Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
8,497 6,976 8,876 7,387 3,127 2,722 9,096 2,074 1,189 2,839 5,353 2,956 736 2,910 221 670 386 75 66,377
7,942 6,334 7,943 6,817 2,695 2,534 8,064 1,772 1,010 2,528 3,883 2,272 584 2,012 204 537 279 46 57,980
49,372 38,450 27,384 28,846 27,803 27,562 18,097 13,765 12,366 7,304 3,134 4,392 6,201 3,792 4,638 2,673 1,779 173 277,731
57,869 45,426 36,260 36,233 30,930 30,284 27,193 15,839 13,555 10,143 8,487 7,348 6,937 6,702 4,859 3,343 2,165 248 344,108
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
76
Kentucky Small Business Profile, 2017
LOUISIANA 436,867 99.5%
910,366 53.0%
Small Businesses of Louisiana Businesses
DIVERSITY
EMPLOYMENT
126,076
17,018
minority-owned businesses
net new jobs
Small Business Employees of Louisiana Employees
TRADE
85.2% of Louisiana exporters
OVERALL L OUISIANA E CONOMY • In the second quarter of 2016, Louisiana grew at an annual rate of 0.4%, which was slower than the overall US growth rate of 1.2%. Louisiana’s 2015 growth rate of 1.0% was down from the 2014 rate of 1.4%. (Source: BEA) • In November 2016, the unemployment rate was 6.2%, up from 5.8% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Louisiana Employment by Business Size (Employees)
• Louisiana small businesses employed 910,366 people, or 53.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.5M
more than 500
• During the year ending November 2016, private-sector em ployment decreased 1.1%. This was above the previous year’s decrease of 1.5%. (Source: CPS)
1.0M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499 500.0K
• Small businesses created 17,018 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 6,915 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 1,390 net jobs. (Source: BDS)
20 to 99
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
77
Louisiana Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 67,648 loans under $100,000 (valued at $944.7 million) were issued by Louisiana lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $50,095 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,106. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Louisiana Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
94.4K
1.1M
Asian
14.4K
56.8K
Hawaiian/Pacific Islander
238
1.5K
Hispanic
14.8K
142.6K
Native American/Alaskan
3.6K
21.8K
Some other race
5.8K
36.8K
Nonveteran
354.0K
3.2M
Veteran
42.1K
313.0K
Minority
126.1K
1.3M
Nonminority
277.2K
2.2M
Female
151.1K
1.8M
Male
214.7K
1.7M
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 151.1K ÷1.8M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Louisiana Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,452 establishments started up, generating 12,242 new jobs in Louisiana. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 2,500 establishments exited resulting in 9,692 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.7K
2.6K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
78
Louisiana Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 3,883 companies exported goods from Louisiana in 2014. Among these, 3,310, or 85.2%, were small firms; they
generated 34.7% of Louisiana’s $63.7 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Louisiana Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Manufacturing Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Mining, Quarrying, and Oil and Gas Extraction Arts, Entertainment, and Recreation Information Agriculture, Forestry, and Fishing and Hunting Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
157,176 119,090 92,884 78,268 69,586 65,782 53,901 50,675 47,682 32,743 32,182 27,878 23,458 22,148 15,700 7,420 3,637 2,400 910,366
287,898 205,689 229,419 144,186 100,652 77,852 129,832 105,423 76,689 64,362 72,693 42,532 33,920 57,820 24,342 25,896 3,917 s 1,717,797
55% 58% 40% 54% 69% 84% 42% 48% 62% 51% 44% 66% 69% 38% 64% 29% 93% 53%
Figure 4: Louisiana Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
79
42% to 55%
62% to 77%
55% to 62%
77% to 100%
Louisiana Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Louisiana Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Administrative, Support, and Waste Management Health Care and Social Assistance Real Estate and Rental and Leasing Retail Trade Transportation and Warehousing Arts, Entertainment, and Recreation Accommodation and Food Services Finance and Insurance Agriculture, Forestry, and Fishing and Hunting Wholesale Trade Educational Services Mining, Quarrying, and Oil and Gas Extraction Manufacturing Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
8,798 11,105 7,644 3,887 9,475 3,541 10,067 2,774 1,293 6,730 3,693 587 3,808 1,049 1,275 2,701 581 200 79,052
8,074 10,310 6,751 3,271 7,869 3,251 8,938 2,305 1,082 5,004 3,349 541 2,936 705 982 1,993 457 180 68,128
66,823 39,702 37,739 37,522 31,724 33,614 26,089 16,311 15,248 7,627 9,748 9,424 4,692 7,290 6,249 4,471 3,299 243 357,815
75,621 50,807 45,383 41,409 41,199 37,155 36,156 19,085 16,541 14,357 13,441 10,011 8,500 8,339 7,524 7,172 3,880 443 436,867
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
80
Louisiana Small Business Profile, 2017
MAINE 144,002 99.3%
283,505 57.5%
Small Businesses of Maine Businesses
DIVERSITY
EMPLOYMENT
4,330
5,764
minority-owned businesses
net new jobs
Small Business Employees of Maine Employees
TRADE
83.4% of Maine exporters
OVERALL M AINE E CONOMY • In the second quarter of 2016, Maine grew at an annual rate of 0.6%, which was slower than the overall US growth rate of 1.2%. Maine’s 2015 growth rate of 1.1% was down from the 2014 rate of 1.7%. (Source: BEA) • In November 2016, the unemployment rate was 4.0%, unchanged from 4.0% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Maine Employment by Business Size (Employees)
• Maine small businesses employed 283,505 people, or 57.5% of the private workforce, in 2014. (Source: SUSB)
500K
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
more than 500
400K
• During the year ending November 2016, private-sector em ployment increased 2.9%. This was above the previous year’s decrease of 1.0%. (Source: CPS)
300K
100 to 499
• The number of proprietors increased in 2015 by 3.1% rela tive to the previous year. (Source: BEA)
200K
20 to 99
• Small businesses created 5,764 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 1,539 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 211 net jobs. (Source: BDS)
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
81
Maine Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 22,722 loans under $100,000 (valued at $372.6 million) were issued by Maine lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $42,098 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,132. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Maine Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
915
9.1K
Asian
1.6K
11.0K
Hawaiian/Pacific Islander
43
240
Hispanic
905
11.6K
Native American/Alaskan
1.0K
5.8K
Some other race
344
2.6K
Nonveteran
115.7K
959.1K
Veteran
15.7K
130.7K
Minority
4.3K
50.3K
Nonminority
131.2K
1.0M
Female
42.1K
562.4K
Male
79.1K
527.4K
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 42.1K ÷562.4K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Maine Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,079 establishments started up, generating 3,205 new jobs in Maine. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 886 establishments exited resulting in 2,616 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.1K 1.1K 1.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
950.0 900.0
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
850.0
2000
SBA Office of Advocacy
2008
2016
82
Maine Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 2,262 companies exported goods from Maine in 2014. Among these, 1,886, or 83.4%, were small firms; they
generated 57.7% of Maine’s $2.3 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Maine Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Information Real Estate and Rental and Leasing Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
51,096 39,287 37,086 24,937 21,129 17,878 16,934 13,876 11,164 10,951 8,008 7,419 6,784 5,702 5,081 3,255 902 s 283,505
107,476 50,032 81,554 48,760 22,816 23,627 18,287 22,711 17,863 26,294 15,383 18,171 8,026 11,440 6,210 3,308 2,121 s 492,690
48% 79% 45% 51% 93% 76% 93% 61% 62% 42% 52% 41% 85% 50% 82% 98% 43% 58%
Figure 4: Maine Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
83
50% to 55%
67% to 86%
55% to 67%
86% to 100%
Maine Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Maine Small Businesses by Industry and Firm Size, 2014
Industry Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Agriculture, Forestry, and Fishing and Hunting Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Accommodation and Food Services Manufacturing Transportation and Warehousing Educational Services Wholesale Trade Finance and Insurance Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
4,693 3,401 3,180 4,169 1,390 2,983 826 1,837 838 3,532 1,484 1,038 444 1,178 789 466 37 18 32,225
4,485 3,240 2,966 3,727 1,334 2,516 787 1,667 753 2,972 1,167 932 361 962 660 384 28 15 29,018
17,248 14,279 13,505 9,131 11,123 7,721 9,109 7,853 6,830 1,667 2,554 2,951 2,870 1,589 1,858 1,325 76 88 111,777
21,941 17,680 16,685 13,300 12,513 10,704 9,935 9,690 7,668 5,199 4,038 3,989 3,314 2,767 2,647 1,791 113 106 144,002
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
84
Maine Small Business Profile, 2017
MARYLAND 579,173 99.5%
1.1 million 50.3%
Small Businesses of Maryland Businesses
DIVERSITY
EMPLOYMENT
203,326
13,975
minority-owned businesses
net new jobs
Small Business Employees of Maryland Employees
TRADE
88.0% of Maryland exporters
OVERALL M ARYLAND E CONOMY • In the second quarter of 2016, Maryland grew at an annual rate of 1.0%, which was slower than the overall US growth rate of 1.2%. Maryland’s 2015 growth rate of 2.0% was up from the 2014 rate of 1.0%. (Source: BEA) • In November 2016, the unemployment rate was 4.2%, down from 5.0% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Maryland Employment by Business Size (Employees)
• Maryland small businesses employed 1.1 million people, or 50.3% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
more than 500
• During the year ending November 2016, private-sector em ployment increased 1.8%. This was above the previous year’s increase of 1.4%. (Source: CPS)
1.5M
• The number of proprietors increased in 2015 by 3.3% rela tive to the previous year. (Source: BEA)
100 to 499
1.0M
• Small businesses created 13,975 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 3,811 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 454 net jobs. (Source: BDS)
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
85
Maryland Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 91,462 loans under $100,000 (valued at $1.3 billion) were issued by Maryland lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $52,926 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $26,177. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Maryland Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
124.7K
1.3M
Asian
41.6K
259.3K
Hawaiian/Pacific Islander
600
2.1K 337.1K
Hispanic
37.3K
Native American/Alaskan
3.5K
14.1K
Some other race
16.5K
132.6K
Nonveteran
461.6K
4.2M
Veteran
50.9K
438.4K
Minority
203.3K
2.0M
Nonminority
314.3K
2.6M
Female
209.1K
2.4M
Male
276.0K
2.2M
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 209.1K ÷2.4M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Maryland Quarterly Startups and Exits startups
• In the second quarter of 2015, 4,313 establishments started up, generating 18,194 new jobs in Maryland. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 3,779 establishments exited resulting in 13,523 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
4.0K 3.9K 3.8K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.7K 3.6K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
3.5K
2000
SBA Office of Advocacy
2008
2016
86
Maryland Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 6,832 companies exported goods from Maryland in 2014. Among these, 6,015, or 88.0%, were small firms; they
generated 25.7% of Maryland’s $11.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Maryland Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
165,919 144,288 132,270 123,164 97,951 95,775 85,365 51,477 45,673 35,517 34,812 27,929 24,739 24,635 16,340 791 652 625 1,116,000
360,751 280,028 212,153 144,248 113,241 291,866 180,658 87,035 96,939 81,421 99,391 43,658 40,796 66,051 54,379 1,267 9,687 1,098 2,216,867
46% 52% 62% 85% 86% 33% 47% 59% 47% 44% 35% 64% 61% 37% 30% 62% 7% 57% 50%
Health Care and Social Assistance Professional, Scientific, and Technical Services Accommodation and Food Services Construction Other Services (Except Public Administration) Retail Trade Administrative, Support, and Waste Management Wholesale Trade Manufacturing Educational Services Finance and Insurance Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Transportation and Warehousing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Figure 4: Maryland Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
40% to 52%
57% to 66%
52% to 57%
66% to 74%
87
Maryland Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Maryland Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Health Care and Social Assistance Construction Real Estate and Rental and Leasing Administrative, Support, and Waste Management Retail Trade Arts, Entertainment, and Recreation Transportation and Warehousing Educational Services Accommodation and Food Services Finance and Insurance Wholesale Trade Information Manufacturing Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
17,637 12,601 12,074 13,659 4,280 6,879 10,893 1,841 2,796 1,864 8,847 3,835 4,351 1,215 2,656 187 32 49 105,657
15,817 11,496 10,414 12,195 3,884 5,821 9,822 1,512 2,395 1,442 6,789 3,422 3,466 977 2,016 178 24 34 91,989
75,836 65,654 53,286 47,302 47,783 41,115 32,998 27,281 24,758 17,005 7,741 11,694 5,896 6,790 4,493 3,228 576 80 473,516
93,473 78,255 65,360 60,961 52,063 47,994 43,891 29,122 27,554 18,869 16,588 15,529 10,247 8,005 7,149 3,415 608 129 579,173
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
88
Maryland Small Business Profile, 2017
MASSACHUSETTS 639,334 99.5%
1.4 million 46.8%
Small Businesses of Massachusetts Businesses
DIVERSITY
EMPLOYMENT
34,568 net new jobs
Small Business Employees of Massachusetts Employees
TRADE
89,930
89.4%
minority-owned businesses
of Massachusetts exporters
OVERALL M ASSACHUSETTS E CONOMY • In the second quarter of 2016, Massachusetts grew at an annual rate of 1.7%, which was faster than the overall US growth rate of 1.2%. Massachusetts’s 2015 growth rate of 3.8% was up from the 2014 rate of 1.2%. (Source: BEA) • In November 2016, the unemployment rate was 2.9%, down from 4.9% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
3.0M
Figure 1: Massachusetts Employment by Business • Massachusetts small businesses employed 1.4 million peo Size (Employees) ple, or 46.8% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.5M
more than 500
• During the year ending November 2016, private-sector em ployment increased 3.2%. This was above the previous year’s decrease of 0.1%. (Source: CPS)
2.0M
1.5M
• The number of proprietors increased in 2015 by 3.3% rela tive to the previous year. (Source: BEA)
100 to 499 1.0M
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
• Small businesses created 34,568 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 7,717 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 2,517 net jobs. (Source: BDS)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
89
Massachusetts Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 113,353 loans under $100,000 (valued at $1.5 billion) were issued by Massachusetts lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $60,198 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $30,121. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Massachusetts Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
23.1K
338.9K
Asian
33.9K
285.7K
Hawaiian/Pacific Islander
365
1.2K 444.2K
Hispanic
30.0K
Native American/Alaskan
2.8K
10.3K
Some other race
17.4K
193.5K
Nonveteran
525.1K
4.9M
Veteran
58.3K
400.9K
Minority
89.9K
1.1M
Nonminority
499.4K
4.2M
Female
199.2K
2.8M
Male
356.6K
2.5M
No. of firms relative to working population
0
5
10
15
20
25
30
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 199.2K ÷2.8M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Massachusetts Quarterly Startups and Exits startups
• In the second quarter of 2015, 6,330 establishments started up, generating 17,965 new jobs in Massachusetts. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
6.5K
• In the same period, 5,017 establishments exited resulting in 14,224 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
6.0K 5.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
5.0K 4.5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
4.0K
2000
SBA Office of Advocacy
2008
2016
90
Massachusetts Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 10,867 companies exported goods from Massachusetts in 2014. Among these, 9,711, or 89.4%, were small firms;
they generated 37.7% of Massachusetts’s $25.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Massachusetts Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
221,083 188,450 150,565 122,488 120,647 107,303 104,186 89,391 77,576 58,599 57,168 38,290 33,843 33,413 30,042 1,515 1,062 629 1,446,082
607,944 282,955 261,703 359,700 221,793 123,108 115,726 189,571 136,774 214,445 178,707 54,980 79,649 112,591 44,909 12,366 1,071 848 3,087,030
36% 67% 58% 34% 54% 87% 90% 47% 57% 27% 32% 70% 42% 30% 67% 12% 99% 74% 47%
Health Care and Social Assistance Accommodation and Food Services Professional, Scientific, and Technical Services Retail Trade Manufacturing Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Wholesale Trade Educational Services Finance and Insurance Arts, Entertainment, and Recreation Transportation and Warehousing Information Real Estate and Rental and Leasing Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Figure 4: Massachusetts Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
36% to 51%
54% to 67%
51% to 54%
67% to 100%
91
Massachusetts Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Massachusetts Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Construction Other Services (Except Public Administration) Real Estate and Rental and Leasing Health Care and Social Assistance Retail Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Educational Services Accommodation and Food Services Finance and Insurance Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
19,664 17,175 16,174 5,025 12,599 15,569 8,835 2,945 2,990 2,707 13,579 4,901 6,287 6,021 1,978 335 72 61 137,060
17,832 16,168 15,182 4,679 10,500 14,199 7,865 2,447 2,510 2,099 10,748 4,183 5,037 4,414 1,536 329 48 49 120,335
98,138 57,484 57,439 55,070 40,788 29,972 35,471 34,865 24,418 22,178 5,719 14,046 7,168 6,076 8,003 4,807 546 86 502,274
117,802 74,659 73,613 60,095 53,387 45,541 44,306 37,810 27,408 24,885 19,298 18,947 13,455 12,097 9,981 5,142 618 147 639,334
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
92
Massachusetts Small Business Profile, 2017
MICHIGAN 866,196 99.6%
1.8 million 49.8%
Small Businesses of Michigan Businesses
DIVERSITY
EMPLOYMENT
158,892
34,682
minority-owned businesses
net new jobs
Small Business Employees of Michigan Employees
TRADE
89.3% of Michigan exporters
OVERALL M ICHIGAN E CONOMY • In the second quarter of 2016, Michigan grew at an annual rate of 2.3%, which was faster than the overall US growth rate of 1.2%. Michigan’s 2015 growth rate of 1.6% was down from the 2014 rate of 1.9%. (Source: BEA) • In November 2016, the unemployment rate was 4.9%, down from 5.1% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Michigan Employment by Business Size (Employees)
• Michigan small businesses employed 1.8 million people, or 49.8% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
3M
more than 500
• During the year ending November 2016, private-sector em ployment increased 2.5%. This was above the previous year’s increase of 1.6%. (Source: CPS)
2M
• The number of proprietors increased in 2015 by 2.9% rela tive to the previous year. (Source: BEA)
100 to 499
• Small businesses created 34,682 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 8,442 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 10 net jobs. (Source: BDS)
20 to 99
1M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
93
Michigan Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 130,801 loans under $100,000 (valued at $1.9 billion) were issued by Michigan lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,721 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $19,911. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Michigan Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
106.4K
1.1M
Asian
26.6K
189.2K
Hawaiian/Pacific Islander
456
2.0K
Hispanic
19.9K
284.4K
Native American/Alaskan
8.3K
42.4K
Some other race
7.4K
79.5K
Nonveteran
732.8K
7.2M
Veteran
71.8K
692.6K
Minority
158.9K
1.7M
Nonminority
656.5K
6.2M
Female
306.9K
4.0M
Male
445.5K
3.8M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 306.9K ÷4.0M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Michigan Quarterly Startups and Exits startups
• In the second quarter of 2015, 4,276 establishments started up, generating 17,849 new jobs in Michigan. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
6.0K
• In the same period, 4,674 establishments exited resulting in 17,211 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
5.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
5.0K
4.5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
94
Michigan Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 14,997 companies exported goods from Michigan in 2014. Among these, 13,387, or 89.3%, were small firms;
they generated 23.1% of Michigan’s $51.1 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Michigan Employment by Industry, 2014
Industry
Health Care and Social Assistance Manufacturing Accommodation and Food Services Retail Trade Other Services (Except Public Administration) Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Construction Wholesale Trade Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
270,453 257,082 225,420 186,318 140,523 139,341 122,447 106,338 102,065 57,842 44,883 35,361 33,644 33,385 21,654 3,372 2,786 1,926 1,797,495
593,335 538,840 362,597 457,164 154,478 249,224 320,662 121,143 171,645 152,273 105,265 73,766 45,038 50,996 69,994 3,559 5,877 21,823 3,610,530
46% 48% 62% 41% 91% 56% 38% 88% 59% 38% 43% 48% 75% 65% 31% 95% 47% 9% 50%
Figure 4: Michigan Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
95
40% to 53%
62% to 77%
53% to 62%
77% to 100%
Michigan Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Michigan Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Health Care and Social Assistance Real Estate and Rental and Leasing Retail Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Finance and Insurance Educational Services Manufacturing Wholesale Trade Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
21,129 19,420 18,118 19,819 5,744 21,994 9,652 3,168 4,785 14,815 6,561 2,043 10,793 8,575 2,067 525 285 80 169,466
19,738 17,834 17,030 17,221 5,342 20,020 8,392 2,740 4,153 11,377 5,949 1,629 7,665 6,963 1,796 490 236 59 149,133
125,319 85,415 76,762 64,447 75,148 58,211 58,575 33,857 29,533 9,965 17,907 21,597 12,070 11,387 8,227 5,662 2,308 340 696,730
146,448 104,835 94,880 84,266 80,892 80,205 68,227 37,025 34,318 24,780 24,468 23,640 22,863 19,962 10,294 6,187 2,593 420 866,196
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
96
Michigan Small Business Profile, 2017
MINNESOTA 509,732 99.5%
1.2 million 47.9%
Small Businesses of Minnesota Businesses
DIVERSITY
EMPLOYMENT
47,277
29,624
minority-owned businesses
net new jobs
Small Business Employees of Minnesota Employees
TRADE
86.9% of Minnesota exporters
OVERALL M INNESOTA E CONOMY • In the second quarter of 2016, Minnesota grew at an annual rate less than 0.1%, which was slower than the overall US growth rate of 1.2%. Minnesota’s 2015 growth rate of 1.9% was down from the 2014 rate of 2.4%. (Source: BEA) • In November 2016, the unemployment rate was 3.8%, up from 3.7% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Minnesota Employment by Business Size • Minnesota small businesses employed 1.2 million people, (Employees) or 47.9% of the private workforce, in 2014. (Source: SUSB) 2.5M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
more than 500
• During the year ending November 2016, private-sector em ployment decreased 1.4%. This was below the previous year’s increase of 1.1%. (Source: CPS)
1.5M
• The number of proprietors increased in 2015 by 2.7% rela tive to the previous year. (Source: BEA)
100 to 499
1.0M
• Small businesses created 29,624 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 9,580 net jobs. The smallest gains were in firms employing 250 to 499 employees, which added 985 net jobs. (Source: BDS)
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
97
Minnesota Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 94,442 loans under $100,000 (valued at $1.3 billion) were issued by Minnesota lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $48,241 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $25,811. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Minnesota Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
19.9K
188.4K
Asian
15.5K
157.3K
Hawaiian/Pacific Islander
328
1.6K
Hispanic
8.8K
157.6K
Native American/Alaskan
4.1K
40.7K
Some other race
3.8K
47.6K
Nonveteran
419.1K
3.8M
Veteran
45.5K
377.5K
Minority
47.3K
595.3K
Nonminority
428.1K
3.6M
Female
157.8K
2.1M
Male
268.2K
2.1M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 157.8K ÷2.1M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Minnesota Quarterly Startups and Exits startups
• In the second quarter of 2015, 3,936 establishments started up, generating 16,203 new jobs in Minnesota. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 3,021 establishments exited resulting in 11,788 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
3.6K
3.4K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.2K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
3.0K
2000
SBA Office of Advocacy
2008
2016
98
Minnesota Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 8,628 companies exported goods from Minnesota in 2014. Among these, 7,502, or 86.9%, were small firms; they
generated 26.7% of Minnesota’s $19.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Minnesota Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Manufacturing Retail Trade Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
207,940 144,522 138,330 118,537 104,282 91,185 85,374 72,953 64,196 44,690 38,043 32,331 26,839 25,173 19,889 2,527 2,359 1,157 1,230,362
444,786 230,754 298,024 296,383 116,102 166,364 106,485 132,737 165,381 151,068 76,845 71,699 45,169 36,878 61,478 s 2,480 6,223 2,566,086
47% 63% 46% 40% 90% 55% 80% 55% 39% 30% 50% 45% 59% 68% 32% 95% 19% 48%
Figure 4: Minnesota Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
99
30% to 53%
66% to 89%
53% to 66%
89% to 100%
Minnesota Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Minnesota Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Finance and Insurance Educational Services Manufacturing Wholesale Trade Accommodation and Food Services Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
15,379 14,171 15,928 11,768 5,030 9,898 6,252 2,624 3,923 5,677 1,713 6,261 6,169 8,241 1,459 491 96 126 115,042
14,293 13,042 15,086 10,379 4,716 7,854 5,539 2,299 3,387 5,147 1,279 4,547 4,950 6,054 1,200 467 45 108 100,637
60,221 51,189 40,599 38,831 42,051 30,804 25,098 28,149 21,979 13,195 13,490 7,542 6,797 3,927 5,335 4,965 343 175 394,690
75,600 65,360 56,527 50,599 47,081 40,702 31,350 30,773 25,902 18,872 15,203 13,803 12,966 12,168 6,794 5,456 439 301 509,732
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
100
Minnesota Small Business Profile, 2017
MISSISSIPPI 252,019 99.3%
432,231 47.4%
Small Businesses of Mississippi Businesses
DIVERSITY
EMPLOYMENT
74,801
5,423
minority-owned businesses
net new jobs
Small Business Employees of Mississippi Employees
TRADE
76.7% of Mississippi exporters
OVERALL M ISSISSIPPI E CONOMY • In the second quarter of 2016, Mississippi grew at an annual rate of 1.1%, which was slower than the overall US growth rate of 1.2%. Mississippi’s 2015 growth rate of 0.5% was up from the 2014 rate of -0.9%. (Source: BEA) • In November 2016, the unemployment rate was 5.7%, down from 6.8% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Mississippi Employment by Business Size (Employees)
• Mississippi small businesses employed 432,231 people, or 47.4% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
800K
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.8%. This was below the previous year’s increase of 3.6%. (Source: CPS)
600K
• The number of proprietors increased in 2015 by 2.5% rela tive to the previous year. (Source: BEA)
100 to 499
400K
• Small businesses created 5,423 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 2,356 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 73 net jobs. (Source: BDS)
20 to 99 200K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
101
Mississippi Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 30,015 loans under $100,000 (valued at $498.4 million) were issued by Mississippi lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $46,665 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,279. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Mississippi Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
65.3K
810.0K
Asian
5.4K
20.9K
Hawaiian/Pacific Islander
101
290
Hispanic
3.3K
54.5K
Native American/Alaskan
1.2K
9.7K
Some other race
1.7K
17.5K
Nonveteran
198.2K
2.1M
Veteran
26.7K
207.7K
Minority
74.8K
909.1K
Nonminority
154.7K
1.4M
Female
89.1K
1.2M
Male
124.7K
1.1M
No. of firms relative to working population
0
5
10
15
20
25
30
35
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 89.1K ÷1.2M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Mississippi Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,371 establishments started up, generating 6,454 new jobs in Mississippi. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 1,313 establishments exited resulting in 4,493 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.6K
1.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.4K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.3K
2000
SBA Office of Advocacy
2008
2016
102
Mississippi Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 2,197 companies exported goods from Mississippi in 2014. Among these, 1,685, or 76.7%, were small firms; they
generated 12.1% of Mississippi’s $11.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Mississippi Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Utilities Agriculture, Forestry, and Fishing and Hunting Information Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
64,837 59,989 56,837 41,890 36,481 32,490 23,841 21,435 21,403 16,126 14,717 9,720 7,540 7,089 4,359 4,169 3,778 2,950 432,231
163,145 119,304 140,778 140,188 38,871 42,688 30,661 35,450 52,736 33,377 35,383 18,255 10,144 8,967 9,908 4,482 13,402 6,198 912,014
40% 50% 40% 30% 94% 76% 78% 60% 41% 48% 42% 53% 74% 79% 44% 93% 28% 48% 47%
Figure 4: Mississippi Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
103
16% to 50%
58% to 77%
50% to 58%
77% to 100%
Mississippi Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Mississippi Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Health Care and Social Assistance Retail Trade Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Transportation and Warehousing Finance and Insurance Accommodation and Food Services Arts, Entertainment, and Recreation Wholesale Trade Educational Services Agriculture, Forestry, and Fishing and Hunting Manufacturing Mining, Quarrying, and Oil and Gas Extraction Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
5,975 3,721 1,764 4,667 7,001 4,163 1,807 1,546 2,081 3,773 622 1,897 467 640 1,677 319 324 348 42,740
5,626 3,353 1,538 4,014 6,358 3,864 1,698 1,318 1,891 2,903 534 1,460 334 600 1,147 270 264 314 37,574
42,596 27,726 24,141 20,525 17,431 18,067 15,087 9,908 6,287 3,849 6,324 3,126 4,061 3,847 2,620 1,844 1,510 330 209,279
48,571 31,447 25,905 25,192 24,432 22,230 16,894 11,454 8,368 7,622 6,946 5,023 4,528 4,487 4,297 2,163 1,834 678 252,019
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
104
Mississippi Small Business Profile, 2017
MISSOURI 515,227 99.4%
1.1 million 46.8%
Small Businesses of Missouri Businesses
DIVERSITY
EMPLOYMENT
61,000
22,722
minority-owned businesses
net new jobs
Small Business Employees of Missouri Employees
TRADE
85.3% of Missouri exporters
OVERALL M ISSOURI E CONOMY • In the second quarter of 2016, Missouri grew at an annual rate of 2.3%, which was faster than the overall US growth rate of 1.2%. Missouri’s 2015 growth rate of 1.7% was up from the 2014 rate of 0.2%. (Source: BEA) • In November 2016, the unemployment rate was 4.7%, up from 4.4% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Missouri Employment by Business Size (Employees)
• Missouri small businesses employed 1.1 million people, or 46.8% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.3%. This was below the previous year’s increase of 2.4%. (Source: CPS)
1.5M
• The number of proprietors increased in 2015 by 2.5% rela tive to the previous year. (Source: BEA)
100 to 499
1.0M
• Small businesses created 22,722 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 6,519 net jobs. The smallest gains were in firms employing 10 to 19 employees, which added 666 net jobs. (Source: BDS)
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
105
Missouri Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 81,975 loans under $100,000 (valued at $1.1 billion) were issued by Missouri lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $42,485 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,727. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Missouri Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
36.2K
516.7K
Asian
13.0K
76.7K
Hawaiian/Pacific Islander
304
4.0K
Hispanic
8.8K
139.5K
Native American/Alaskan
3.7K
18.4K
Some other race
3.0K
41.9K
Nonveteran
414.9K
4.2M
Veteran
49.1K
494.9K
Minority
61.0K
820.0K
Nonminority
415.3K
3.9M
Female
162.6K
2.4M
Male
257.3K
2.3M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 162.6K ÷2.4M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Missouri Quarterly Startups and Exits startups
• In the second quarter of 2015, 4,650 establishments started up, generating 14,597 new jobs in Missouri. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
5.0K
• In the same period, 4,280 establishments exited resulting in 11,569 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
4.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
4.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
3.5K
2000
SBA Office of Advocacy
2008
2016
106
Missouri Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 6,089 companies exported goods from Missouri in 2014. Among these, 5,195, or 85.3%, were small firms; they
generated 28.6% of Missouri’s $12.9 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Missouri Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Utilities Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
184,649 151,155 110,335 101,372 95,226 90,854 79,147 69,557 60,630 44,923 32,885 28,927 24,218 22,626 13,104 3,178 1,880 1,410 1,125,909
404,916 248,672 310,453 248,347 109,040 108,362 159,837 125,946 165,288 130,790 82,969 73,510 34,788 39,622 56,586 15,724 3,400 1,639 2,404,701
46% 61% 36% 41% 87% 84% 50% 55% 37% 34% 40% 39% 70% 57% 23% 20% 55% 86% 47%
Figure 4: Missouri Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
107
34% to 55%
71% to 81%
55% to 71%
81% to 100%
Missouri Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Missouri Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Retail Trade Health Care and Social Assistance Real Estate and Rental and Leasing Administrative, Support, and Waste Management Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Wholesale Trade Manufacturing Educational Services Agriculture, Forestry, and Fishing and Hunting Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
14,023 12,733 11,901 12,133 21,212 4,727 6,255 3,679 1,921 5,340 8,741 5,740 5,072 1,353 255 1,093 151 88 117,514
12,982 11,714 10,937 10,722 19,413 4,407 5,572 3,184 1,618 4,801 6,431 4,465 3,799 1,008 240 894 114 41 103,918
66,957 50,881 45,064 38,842 28,685 44,156 32,339 19,791 19,948 13,393 5,056 6,450 6,095 9,592 5,421 4,363 406 274 397,713
80,980 63,614 56,965 50,975 49,897 48,883 38,594 23,470 21,869 18,733 13,797 12,190 11,167 10,945 5,676 5,456 557 362 515,227
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
108
Missouri Small Business Profile, 2017
MONTANA 117,149 99.3%
239,910 66.0%
Small Businesses of Montana Businesses
DIVERSITY
EMPLOYMENT
5,575
3,257
minority-owned businesses
net new jobs
Small Business Employees of Montana Employees
TRADE
83.5% of Montana exporters
OVERALL M ONTANA E CONOMY • In the second quarter of 2016, Montana grew at an annual rate of 1.2%, which was the same as the overall US growth rate. Montana’s 2015 growth rate of 2.0% was up from the 2014 rate of 1.4%. (Source: BEA) • In November 2016, the unemployment rate was 4.0%, down from 4.1% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Montana Employment by Business Size (Employees)
300K
• Montana small businesses employed 239,910 people, or 66.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.3%. This was below the previous year’s increase of 1.6%. (Source: CPS)
100 to 499
200K
• The number of proprietors increased in 2015 by 2.4% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses created 3,257 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 1,268 net jobs. The largest losses were in firms employing 100 to 249 employees, which lost 82 net jobs. (Source: BDS)
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
109
Montana Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 24,870 loans under $100,000 (valued at $351.3 million) were issued by Montana lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $38,283 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,436. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Montana Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
258
2.9K
Asian
945
5.2K
Hawaiian/Pacific Islander
104
526
Hispanic
1.5K
19.0K
Native American/Alaskan
3.0K
43.1K
Some other race
311
4.1K
Nonveteran
93.3K
696.4K
Veteran
11.5K
98.0K
Minority
5.6K
82.2K
Nonminority
102.6K
712.2K
Female
35.4K
398.0K
Male
55.8K
396.4K
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 35.4K ÷398.0K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Montana Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,081 establishments started up, generating 2,885 new jobs in Montana. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 1,069 establishments exited resulting in 3,115 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.1K 1.0K 950.0
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
900.0 850.0
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
800.0
2000
SBA Office of Advocacy
2008
2016
110
Montana Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,556 companies exported goods from Montana in 2014. Among these, 1,300, or 83.5%, were small firms; they
generated 67.8% of Montana’s $1.3 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Montana Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
40,914 40,466 29,845 20,991 15,335 15,153 12,793 10,154 9,156 8,816 8,261 7,979 5,097 4,798 4,044 2,839 1,031 952 239,910
47,949 68,523 58,857 23,173 15,848 17,951 17,579 15,515 22,139 10,658 13,073 16,071 6,057 5,575 9,384 7,647 3,007 1,016 363,650
85% 59% 51% 91% 97% 84% 73% 65% 41% 83% 63% 50% 84% 86% 43% 37% 34% 94% 66%
Accommodation and Food Services Health Care and Social Assistance Retail Trade Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Manufacturing Wholesale Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Finance and Insurance Educational Services Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Figure 4: Montana Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
59% to 74%
85% to 98%
74% to 85%
98% to 100%
111
Montana Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Montana Small Businesses by Industry and Firm Size, 2014
Industry Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Accommodation and Food Services Transportation and Warehousing Finance and Insurance Manufacturing Agriculture, Forestry, and Fishing and Hunting Wholesale Trade Educational Services Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
5,029 2,998 3,341 1,608 3,449 2,851 1,573 1,032 3,090 1,185 1,142 1,184 337 1,053 356 351 352 78 30,963
4,865 2,854 3,177 1,556 3,082 2,501 1,474 935 2,495 1,074 1,047 1,014 330 848 295 302 315 56 28,283
11,881 11,676 10,897 11,646 8,459 5,084 5,090 5,075 1,484 2,975 2,200 2,093 2,750 1,307 1,685 997 796 91 86,186
16,910 14,674 14,238 13,254 11,908 7,935 6,663 6,107 4,574 4,160 3,342 3,277 3,087 2,360 2,041 1,348 1,148 169 117,149
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
112
Montana Small Business Profile, 2017
NEBRASKA 170,512 99.1%
400,506 47.1%
Small Businesses of Nebraska Businesses
DIVERSITY
EMPLOYMENT
14,561
9,084
minority-owned businesses
net new jobs
Small Business Employees of Nebraska Employees
TRADE
81.2% of Nebraska exporters
OVERALL N EBRASKA E CONOMY • In the second quarter of 2016, Nebraska grew at an annual rate of 4.3%, which was faster than the overall US growth rate of 1.2%. Nebraska’s 2015 growth rate of 0.9% was down from the 2014 rate of 3.0%. (Source: BEA) • In November 2016, the unemployment rate was 3.4%, up from 3.0% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Nebraska Employment by Business Size (Employees)
• Nebraska small businesses employed 400,506 people, or 47.1% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
800K
600K
• During the year ending November 2016, private-sector em ployment decreased 0.2%. This was below the previous year’s increase of 0.5%. (Source: CPS)
more than 500
• The number of proprietors increased in 2015 by 2.1% rela tive to the previous year. (Source: BEA)
400K
100 to 499
• Small businesses created 9,084 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 2,841 net jobs. The largest losses were in firms employing 50 to 99 employees, which lost 91 net jobs. (Source: BDS)
20 to 99
200K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
113
Nebraska Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 27,372 loans under $100,000 (valued at $440.1 million) were issued by Nebraska lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $43,071 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $25,487. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Nebraska Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
4.6K
59.0K
Asian
3.2K
24.6K
Hawaiian/Pacific Islander
55
799
Hispanic
6.0K
104.1K
Native American/Alaskan
989
11.2K
Some other race
2.5K
28.5K
Nonveteran
137.0K
1.3M
Veteran
16.7K
146.9K
Minority
14.6K
212.9K
Nonminority
143.8K
1.2M
Female
51.9K
722.0K
Male
83.4K
697.5K
No. of firms relative to working population
0
2
4
6
8
10
12
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 51.9K ÷722.0K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Nebraska Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,611 establishments started up, generating 4,664 new jobs in Nebraska. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
1.8K
• In the same period, 1,605 establishments exited resulting in 4,645 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.6K
1.4K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.2K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.0K
2000
SBA Office of Advocacy
2008
2016
114
Nebraska Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 2,016 companies exported goods from Nebraska in 2014. Among these, 1,638, or 81.2%, were small firms; they
generated 22.3% of Nebraska’s $7.5 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Nebraska Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
64,756 49,056 44,306 37,120 33,148 30,456 26,495 26,027 18,984 18,109 13,970 9,778 8,587 8,295 6,905 815 615 191 400,506
124,250 72,488 110,073 41,197 36,258 93,135 97,943 42,592 59,979 60,573 27,772 13,567 18,376 10,683 20,380 1,168 1,136 s 851,128
52% 68% 40% 90% 91% 33% 27% 61% 32% 30% 50% 72% 47% 78% 34% 70% 54% 47%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Other Services (Except Public Administration) Manufacturing Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Arts, Entertainment, and Recreation Educational Services Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
Figure 4: Nebraska Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
34% to 60%
74% to 83%
60% to 74%
83% to 100%
115
Nebraska Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Nebraska Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Retail Trade Professional, Scientific, and Technical Services Health Care and Social Assistance Real Estate and Rental and Leasing Administrative, Support, and Waste Management Transportation and Warehousing Finance and Insurance Arts, Entertainment, and Recreation Accommodation and Food Services Wholesale Trade Educational Services Agriculture, Forestry, and Fishing and Hunting Manufacturing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
5,259 6,035 4,587 4,033 4,199 1,693 2,175 1,990 2,375 810 3,293 1,989 475 173 1,465 448 107 18 40,993
4,893 5,644 4,018 3,724 3,483 1,588 1,968 1,825 2,153 701 2,530 1,468 355 162 1,076 334 96 11 36,098
20,180 15,515 13,495 13,279 12,349 14,695 9,101 6,512 5,366 6,200 1,645 1,802 3,162 3,140 1,508 1,314 182 74 129,519
25,439 21,550 18,082 17,312 16,548 16,388 11,276 8,502 7,741 7,010 4,938 3,791 3,637 3,313 2,973 1,762 289 92 170,512
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
116
Nebraska Small Business Profile, 2017
NEVADA 246,569 99.1%
450,104 41.3%
Small Businesses of Nevada Businesses
DIVERSITY
EMPLOYMENT
71,827
25,730
minority-owned businesses
net new jobs
Small Business Employees of Nevada Employees
TRADE
86.6% of Nevada exporters
OVERALL N EVADA E CONOMY • In the second quarter of 2016, Nevada grew at an annual rate of 2.3%, which was faster than the overall US growth rate of 1.2%. Nevada’s 2015 growth rate of 1.6% was down from the 2014 rate of 2.1%. (Source: BEA) • In November 2016, the unemployment rate was 5.2%, down from 6.3% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Nevada Employment by Business Size (Employees)
• Nevada small businesses employed 450,104 people, or 41.3% of the private workforce, in 2014. (Source: SUSB)
1.2M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.0M
• During the year ending November 2016, private-sector em ployment increased 1.2%. This was below the previous year’s increase of 2.6%. (Source: CPS)
more than 500
800.0K
600.0K
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499
400.0K
• Small businesses created 25,730 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 5,829 net jobs. The smallest gains were in firms employing 50 to 99 employees, which added 2,301 net jobs. (Source: BDS)
20 to 99 200.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
117
Nevada Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 49,530 loans under $100,000 (valued at $634.4 million) were issued by Nevada lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $49,237 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,922. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Nevada Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
15.4K
166.3K
Asian
21.7K
162.7K
Hawaiian/Pacific Islander
1.1K
12.4K
Hispanic
33.7K
483.5K
Native American/Alaskan
2.3K
23.2K
Some other race
14.8K
118.4K
Nonveteran
190.8K
1.9M
Veteran
23.0K
229.6K
Minority
71.8K
883.6K
Nonminority
144.4K
1.2M
Female
82.5K
1.1M
Male
113.6K
1.1M
No. of firms relative to working population
0
2
4
6
8
10
12
14
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 82.5K ÷1.1M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Nevada Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,395 establishments started up, generating 7,819 new jobs in Nevada. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.4K
• In the same period, 2,011 establishments exited resulting in 6,934 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.2K
2.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.8K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.6K
2000
SBA Office of Advocacy
2008
2016
118
Nevada Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 3,104 companies exported goods from Nevada in 2014. Among these, 2,688, or 86.6%, were small firms; they
generated 18.0% of Nevada’s $6.9 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Nevada Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Construction Administrative, Support, and Waste Management Retail Trade Professional, Scientific, and Technical Services Other Services (Except Public Administration) Manufacturing Arts, Entertainment, and Recreation Wholesale Trade Real Estate and Rental and Leasing Transportation and Warehousing Finance and Insurance Educational Services Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
77,144 56,242 47,913 42,580 39,947 37,950 25,195 24,214 18,663 18,069 15,763 13,409 11,005 7,958 5,623 4,693 623 s 450,104
310,734 108,667 58,504 106,171 140,879 56,214 31,182 41,572 26,954 34,397 28,013 46,908 34,322 10,784 16,720 13,879 s s 1,090,071
25% 52% 82% 40% 28% 68% 81% 58% 69% 53% 56% 29% 32% 74% 34% 34% 41%
Figure 4: Nevada Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
119
39% to 53%
62% to 98%
53% to 62%
98% to 100%
Nevada Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Nevada Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Construction Finance and Insurance Transportation and Warehousing Accommodation and Food Services Wholesale Trade Educational Services Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
7,710 3,711 3,227 4,580 5,459 3,621 1,186 4,459 2,279 1,115 4,067 2,311 616 1,568 772 47 180 45 47,031
7,161 3,407 3,013 4,015 4,881 3,098 981 3,829 2,063 915 3,062 1,823 494 1,203 693 46 133 31 41,030
29,993 32,014 28,235 17,462 15,371 16,601 15,860 11,039 7,713 7,908 2,813 3,828 3,723 2,491 3,282 681 390 134 199,538
37,703 35,725 31,462 22,042 20,830 20,222 17,046 15,498 9,992 9,023 6,880 6,139 4,339 4,059 4,054 728 570 179 246,569
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
120
Nevada Small Business Profile, 2017
NEW HAMPSHIRE 132,432 99.0%
289,914 51.5%
Small Businesses of New Hampshire Businesses
DIVERSITY
EMPLOYMENT
4,410 net new jobs
Small Business Employees of New Hampshire Employees
TRADE
6,107
86.6%
minority-owned businesses
of New Hampshire exporters
OVERALL N EW H AMPSHIRE E CONOMY • In the second quarter of 2016, New Hampshire grew at an annual rate of 1.2%, which was the same as the overall US growth rate. New Hampshire’s 2015 growth rate of 1.4% was down from the 2014 rate of 1.8%. (Source: BEA) • In November 2016, the unemployment rate was 2.7%, down from 3.1% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT • New Hampshire small businesses employed 289,914 peo ple, or 51.5% of the private workforce, in 2014. (Source: SUSB)
Figure 1: New Hampshire Employment by Business Size (Employees) 600K
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
500K
more than 500
• During the year ending November 2016, private-sector em ployment increased 2.4%. This was above the previous year’s increase of 0.8%. (Source: CPS)
400K
300K
100 to 499 200K
• The number of proprietors increased in 2015 by 3.1% rela tive to the previous year. (Source: BEA)
20 to 99
100K
fewer than 20 0
1998
2006
2014
• Small businesses created 4,410 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 1,130 net jobs. The smallest gains were in firms employing 250 to 499 employees, which added 196 net jobs. (Source: BDS)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
121
New Hampshire Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 23,174 loans under $100,000 (valued at $323.1 million) were issued by New Hampshire lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $52,433 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $27,068. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: New Hampshire Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
816
11.0K
Asian
2.7K
21.8K
Hawaiian/Pacific Islander
96
163
Hispanic
1.9K
25.0K
Native American/Alaskan
757
2.0K
Some other race
686
5.8K
Nonveteran
108.6K
953.2K
Veteran
16.1K
115.4K
Minority
6.1K
70.7K
Nonminority
121.1K
998.0K
Female
38.5K
545.6K
Male
76.5K
523.0K
No. of firms relative to working population
0
10
20
30
40
50
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 38.5K ÷545.6K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: New Hampshire Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,206 establishments started up, generating 3,622 new jobs in New Hampshire. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 1,091 establishments exited resulting in 2,801 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.3K 1.2K 1.2K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.1K 1.1K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.1K
2000
SBA Office of Advocacy
2008
2016
122
New Hampshire Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 2,734 companies exported goods from New Hampshire in 2014. Among these, 2,369, or 86.6%, were small firms;
they generated 49.4% of New Hampshire’s $4.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: New Hampshire Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Educational Services Arts, Entertainment, and Recreation Transportation and Warehousing Real Estate and Rental and Leasing Information Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
42,050 40,158 33,393 28,924 22,280 22,186 19,533 16,965 15,457 9,947 9,178 8,064 6,853 5,979 5,635 667 610 245 289,914
88,007 54,369 97,453 66,151 23,173 29,915 21,846 47,359 24,440 29,079 23,420 11,892 12,929 7,162 14,096 3,110 644 260 563,323
48% 74% 34% 44% 96% 74% 89% 36% 63% 34% 39% 68% 53% 83% 40% 21% 95% 94% 51%
Figure 4: New Hampshire Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
123
47% to 55%
57% to 71%
55% to 57%
71% to 74%
New Hampshire Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: New Hampshire Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Construction Other Services (Except Public Administration) Real Estate and Rental and Leasing Retail Trade Administrative, Support, and Waste Management Health Care and Social Assistance Arts, Entertainment, and Recreation Accommodation and Food Services Educational Services Manufacturing Finance and Insurance Wholesale Trade Transportation and Warehousing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
3,419 3,791 3,390 1,085 3,591 1,959 2,536 706 2,949 545 1,597 859 1,440 656 380 138 34 40 29,087
3,117 3,544 3,204 1,012 3,144 1,772 2,114 601 2,331 433 1,181 724 1,130 572 295 133 23 34 25,422
17,079 16,577 12,514 12,213 8,528 7,345 6,234 6,133 1,232 3,386 2,271 2,436 1,845 2,187 1,545 1,672 89 59 103,345
20,498 20,368 15,904 13,298 12,119 9,304 8,770 6,839 4,181 3,931 3,868 3,295 3,285 2,843 1,925 1,810 123 99 132,432
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
124
New Hampshire Small Business Profile, 2017
NEW JERSEY 843,989 99.6%
1.8 million 50.0%
Small Businesses of New Jersey Businesses
DIVERSITY
EMPLOYMENT
21,497 net new jobs
Small Business Employees of New Jersey Employees
TRADE
237,187
92.2%
minority-owned businesses
of New Jersey exporters
OVERALL N EW J ERSEY E CONOMY • In the second quarter of 2016, New Jersey grew at an annual rate of 1.7%, which was faster than the overall US growth rate of 1.2%. New Jersey’s 2015 growth rate of 2.0% was up from the 2014 rate of 0.2%. (Source: BEA) • In November 2016, the unemployment rate was 5.0%, up from 4.8% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: New Jersey Employment by Business Size (Employees)
• New Jersey small businesses employed 1.8 million people, or 50.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
3M
more than 500
• During the year ending November 2016, private-sector em ployment decreased 0.2%. This was below the previous year’s increase of 1.9%. (Source: CPS)
2M
• The number of proprietors increased in 2015 by 3.3% rela tive to the previous year. (Source: BEA)
100 to 499
• Small businesses created 21,497 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 7,813 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 1,060 net jobs. (Source: BDS)
20 to 99
1M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
125
New Jersey Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 194,471 loans under $100,000 (valued at $3.0 billion) were issued by New Jersey lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $60,140 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $29,212. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: New Jersey Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
63.7K
917.4K
Asian
81.9K
577.7K
Hawaiian/Pacific Islander
892
2.0K
Hispanic
93.3K
1.1M
Native American/Alaskan
3.5K
16.6K
Some other race
34.4K
382.6K
Nonveteran
707.3K
6.5M
Veteran
57.9K
457.7K
Minority
237.2K
2.7M
Nonminority
533.1K
4.3M
Female
252.9K
3.6M
Male
463.9K
3.4M
No. of firms relative to working population
0
10
20
30
40
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 252.9K ÷3.6M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: New Jersey Quarterly Startups and Exits startups
• In the second quarter of 2015, 7,336 establishments started up, generating 30,530 new jobs in New Jersey. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 7,077 establishments exited resulting in 25,898 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
7.5K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
7.0K
6.5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
126
New Jersey Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 20,647 companies exported goods from New Jersey in 2014. Among these, 19,036, or 92.2%, were small firms;
they generated 43.8% of New Jersey’s $32.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: New Jersey Employment by Industry, 2014
Industry
Health Care and Social Assistance Professional, Scientific, and Technical Services Accommodation and Food Services Retail Trade Wholesale Trade Manufacturing Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Transportation and Warehousing Educational Services Finance and Insurance Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
282,037 186,186 183,672 159,211 144,816 138,718 136,547 123,301 118,833 66,469 57,732 48,168 46,384 37,690 21,099 1,021 880 647 1,764,993
561,829 317,085 299,182 456,680 256,430 221,901 152,445 139,076 304,316 157,962 99,780 192,521 58,775 54,487 93,305 20,650 896 1,392 3,526,716
50% 59% 61% 35% 56% 63% 90% 89% 39% 42% 58% 25% 79% 69% 23% 5% 98% 46% 50%
Figure 4: New Jersey Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
127
42% to 49%
55% to 61%
49% to 55%
61% to 70%
New Jersey Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: New Jersey Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Other Services (Except Public Administration) Construction Health Care and Social Assistance Retail Trade Administrative, Support, and Waste Management Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Wholesale Trade Educational Services Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
27,441 6,994 22,339 20,734 21,548 21,934 12,121 6,157 3,229 5,842 17,637 12,300 3,354 6,864 1,829 203 77 56 190,718
25,199 6,564 21,011 19,521 18,652 20,241 10,801 5,254 2,676 5,198 15,042 10,193 2,632 5,065 1,511 191 61 41 170,242
113,394 93,634 76,421 55,603 53,628 49,391 43,430 41,198 35,894 22,982 10,554 14,516 22,641 6,838 10,332 2,073 680 62 653,271
140,835 100,628 98,760 76,337 75,176 71,325 55,551 47,355 39,123 28,824 28,191 26,816 25,995 13,702 12,161 2,276 757 118 843,989
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
128
New Jersey Small Business Profile, 2017
NEW MEXICO 154,489 99.0%
336,684 55.9%
Small Businesses of New Mexico Businesses
DIVERSITY
EMPLOYMENT
5,009 net new jobs
Small Business Employees of New Mexico Employees
TRADE
60,595
84.0%
minority-owned businesses
of New Mexico exporters
OVERALL N EW M EXICO E CONOMY • In the second quarter of 2016, New Mexico grew at an annual rate of -0.2%, which was slower than the overall US growth rate of 1.2%. New Mexico’s 2015 growth rate of 1.7% was down from the 2014 rate of 2.5%. (Source: BEA) • In November 2016, the unemployment rate was 6.7%, up from 6.6% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: New Mexico Employment by Business Size • New Mexico small businesses employed 336,684 people, (Employees) or 55.9% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
600K
500K
more than 500
• During the year ending November 2016, private-sector em ployment increased 1.3%. This was above the previous year’s decrease of 0.8%. (Source: CPS)
400K
300K
100 to 499
• The number of proprietors increased in 2015 by 3.0% rela tive to the previous year. (Source: BEA)
200K
20 to 99
• Small businesses created 5,009 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 3,001 net jobs. The largest losses were in firms employing 50 to 99 employees, which lost 409 net jobs. (Source: BDS)
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
129
New Mexico Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 25,522 loans under $100,000 (valued at $371.3 million) were issued by New Mexico lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $41,696 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $17,879. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: New Mexico Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
2.1K
31.1K
Asian
4.3K
22.0K
Hawaiian/Pacific Islander
152
1.0K
Hispanic
46.5K
685.3K
Native American/Alaskan
8.7K
138.5K
Some other race
14.8K
178.8K
Nonveteran
128.4K
1.4M
Veteran
14.0K
175.8K
Minority
60.6K
886.0K
Nonminority
83.5K
711.9K
Female
59.0K
815.5K
Male
70.8K
782.4K
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 59.0K ÷815.5K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: New Mexico Quarterly Startups and Exits startups
• In the second quarter of 2015, 1,363 establishments started up, generating 5,358 new jobs in New Mexico. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 1,151 establishments exited resulting in 3,808 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.4K
1.4K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
1.3K
1.2K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.2K
2000
SBA Office of Advocacy
2008
2016
130
New Mexico Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,413 companies exported goods from New Mexico in 2014. Among these, 1,187, or 84.0%, were small firms;
they generated 38.9% of New Mexico’s $3.7 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: New Mexico Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Construction Retail Trade Other Services (Except Public Administration) Professional, Scientific, and Technical Services Manufacturing Administrative, Support, and Waste Management Finance and Insurance Wholesale Trade Mining, Quarrying, and Oil and Gas Extraction Transportation and Warehousing Arts, Entertainment, and Recreation Educational Services Real Estate and Rental and Leasing Information Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
57,320 56,839 35,934 34,258 24,548 23,753 14,878 14,757 11,650 11,543 10,515 9,761 8,548 8,140 7,413 3,803 1,233 334 336,684
115,814 83,825 38,237 95,707 26,279 46,523 26,449 31,187 22,586 21,422 21,717 17,821 12,515 8,941 10,437 11,594 4,623 365 602,632
49% 68% 94% 36% 93% 51% 56% 47% 52% 54% 48% 55% 68% 91% 71% 33% 27% 92% 56%
Figure 4: New Mexico Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
131
48% to 57%
67% to 73%
57% to 67%
73% to 100%
New Mexico Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: New Mexico Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Health Care and Social Assistance Construction Retail Trade Real Estate and Rental and Leasing Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Educational Services Finance and Insurance Wholesale Trade Manufacturing Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
4,141 3,758 3,848 4,207 3,722 1,774 1,509 638 1,047 2,982 529 1,334 1,266 1,231 368 620 83 130 33,146
3,824 3,479 3,254 3,794 3,284 1,672 1,336 545 900 2,102 431 1,182 991 1,032 310 463 80 112 28,854
16,586 16,611 11,713 11,240 11,189 11,846 9,065 8,715 4,337 1,932 4,263 3,107 3,146 3,087 1,653 1,288 1,455 110 121,343
20,727 20,369 15,561 15,447 14,911 13,620 10,574 9,353 5,384 4,914 4,792 4,441 4,412 4,318 2,021 1,908 1,538 240 154,489
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
132
New Mexico Small Business Profile, 2017
NEW YORK 2.1 million 99.8%
4.0 million 50.5%
Small Businesses of New York Businesses
DIVERSITY
EMPLOYMENT
708,962
79,923
minority-owned businesses
net new jobs
Small Business Employees of New York Employees
TRADE
94.1% of New York exporters
OVERALL N EW YORK E CONOMY • In the second quarter of 2016, New York grew at an annual rate of 0.1%, which was slower than the overall US growth rate of 1.2%. New York’s 2015 growth rate of 0.9% was up from the 2014 rate of 0.8%. (Source: BEA) • In November 2016, the unemployment rate was 5.1%, up from 5.0% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: New York Employment by Business Size (Employees)
• New York small businesses employed 4.0 million people, or 50.5% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
6M
more than 500
• During the year ending November 2016, private-sector em ployment decreased 1.0%. This was below the previous year’s increase of 1.7%. (Source: CPS)
4M
• The number of proprietors increased in 2015 by 3.4% rela tive to the previous year. (Source: BEA)
100 to 499
• Small businesses created 79,923 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 14,830 net jobs. The smallest gains were in firms employing 10 to 19 employees, which added 7,565 net jobs. (Source: BDS)
20 to 99
2M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
133
New York Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 383,030 loans under $100,000 (valued at $5.1 billion) were issued by New York lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $52,156 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,148. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: New York Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
219.0K
2.4M
Asian
243.1K
1.2M
Hawaiian/Pacific Islander
2.8K
5.1K
Hispanic
266.6K
2.6M
Native American/Alaskan
13.2K
54.3K
Some other race
133.2K
1.2M
Nonveteran
1.8M
14.7M
Veteran
137.4K
957.0K
Minority
709.0K
6.2M
Nonminority
1.2M
9.4M
Female
725.6K
8.2M
Male
1.1M
7.5M
No. of firms relative to working population
0
10
20
30
40
50
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 725.6K ÷8.2M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: New York Quarterly Startups and Exits startups
• In the second quarter of 2015, 14,524 establishments started up, generating 53,050 new jobs in New York. Star tups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
17K
• In the same period, 13,359 establishments exited resulting in 50,603 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
16K
15K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
14K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
13K
2000
SBA Office of Advocacy
2008
2016
134
New York Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 39,941 companies exported goods from New York in 2014. Among these, 37,568, or 94.1%, were small firms;
they generated 53.3% of New York’s $74.5 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: New York Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Wholesale Trade Manufacturing Administrative, Support, and Waste Management Finance and Insurance Educational Services Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Transportation and Warehousing Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
595,741 528,266 373,222 354,138 322,616 289,901 260,341 252,020 239,275 145,765 144,264 139,111 105,100 103,386 81,477 2,699 2,567 2,390 3,968,482
1,459,585 743,857 935,555 626,610 374,760 317,711 367,286 423,971 563,149 536,065 421,578 170,676 169,901 236,577 280,497 3,731 2,778 39,642 7,858,425
41% 71% 40% 57% 86% 91% 71% 59% 42% 27% 34% 82% 62% 44% 29% 72% 92% 6% 50%
Figure 4: New York Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
135
40% to 51%
56% to 63%
51% to 56%
63% to 100%
New York Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: New York Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Other Services (Except Public Administration) Real Estate and Rental and Leasing Health Care and Social Assistance Construction Retail Trade Arts, Entertainment, and Recreation Administrative, Support, and Waste Management Transportation and Warehousing Accommodation and Food Services Finance and Insurance Wholesale Trade Educational Services Information Manufacturing Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
56,999 53,819 29,216 44,146 46,059 58,585 11,259 23,659 10,885 45,125 15,252 29,036 7,163 7,368 14,966 574 173 237 454,718
53,100 50,858 27,888 38,983 43,104 54,765 10,029 21,138 9,542 38,037 13,621 25,619 5,496 6,307 11,717 556 137 201 412,283
256,610 225,603 189,829 172,057 133,347 118,191 130,170 107,414 117,551 29,854 49,607 34,017 52,274 30,242 18,603 6,459 1,567 902 1,674,297
313,609
279,422
219,045
216,203
179,406
176,776
141,429
131,073
128,436
74,979
64,859
63,053
59,437
37,610
33,569
7,033
1,740
1,139
2,129,015
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
136
New York Small Business Profile, 2017
NORTH CAROLINA 871,376 99.6%
1.6 million 44.8%
Small Businesses of North Carolina Businesses
DIVERSITY
EMPLOYMENT
34,295 net new jobs
Small Business Employees of North Carolina Employees
TRADE
183,333
87.7%
minority-owned businesses
of North Carolina exporters
OVERALL N ORTH C AROLINA E CONOMY • In the second quarter of 2016, North Carolina grew at an annual rate of 1.5%, which was faster than the overall US growth rate of 1.2%. North Carolina’s 2015 growth rate of 2.0% was up from the 2014 rate of 1.9%. (Source: BEA) • In November 2016, the unemployment rate was 5.0%, down from 5.6% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT • North Carolina small businesses employed 1.6 million peo ple, or 44.8% of the private workforce, in 2014. (Source: SUSB)
Figure 1: North Carolina Employment by Business Size (Employees)
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
3M
more than 500
• During the year ending November 2016, private-sector em ployment increased 2.9%. This was above the previous year’s increase of 2.0%. (Source: CPS)
2M
• The number of proprietors increased in 2015 by 3.0% rela tive to the previous year. (Source: BEA)
100 to 499 1M
20 to 99
fewer than 20 0
1998
2006
2014
• Small businesses created 34,295 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 10,252 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 1,081 net jobs. (Source: BDS)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
137
North Carolina Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 139,200 loans under $100,000 (valued at $2.2 billion) were issued by North Carolina lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $43,652 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,813. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: North Carolina Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
112.9K
1.6M
Asian
27.1K
162.7K
Hawaiian/Pacific Islander
724
3.4K 513.4K
Hispanic
34.9K
Native American/Alaskan
11.7K
83.6K
Some other race
16.1K
201.6K
Nonveteran
683.9K
6.8M
Veteran
86.5K
738.9K
Minority
183.3K
2.4M
Nonminority
602.3K
5.1M
Female
287.0K
3.9M
Male
434.9K
3.6M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 287.0K ÷3.9M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: North Carolina Quarterly Startups and Exits startups
• In the second quarter of 2015, 6,339 establishments started up, generating 24,122 new jobs in North Carolina. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
6.5K
• In the same period, 6,606 establishments exited resulting in 24,094 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
6.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
5.5K
5.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
4.5K
2000
SBA Office of Advocacy
2008
2016
138
North Carolina Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 10,886 companies exported goods from North Carolina in 2014. Among these, 9,544, or 87.7%, were small firms;
they generated 25.8% of North Carolina’s $27.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: North Carolina Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
249,974 221,232 153,350 151,597 142,187 133,679 117,272 104,434 90,319 39,907 39,093 38,749 35,682 34,304 19,426 4,282 3,458 1,634 1,593,376
560,309 379,757 469,243 408,132 167,929 148,355 203,500 355,469 174,694 94,867 172,319 60,055 113,804 51,023 80,535 4,671 19,494 3,233 3,560,448
45% 58% 33% 37% 85% 90% 58% 29% 52% 42% 23% 65% 31% 67% 24% 92% 18% 51% 45%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Wholesale Trade Educational Services Finance and Insurance Arts, Entertainment, and Recreation Transportation and Warehousing Real Estate and Rental and Leasing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Figure 4: North Carolina Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
32% to 48%
55% to 66%
48% to 55%
66% to 100%
139
North Carolina Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: North Carolina Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Administrative, Support, and Waste Management Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Arts, Entertainment, and Recreation Transportation and Warehousing Finance and Insurance Accommodation and Food Services Educational Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
21,006 20,995 20,605 10,045 7,749 19,329 16,629 3,299 4,354 6,049 14,032 2,445 8,588 7,188 1,625 769 135 99 164,838
19,681 19,541 18,991 8,860 7,322 17,573 13,878 2,809 3,821 5,603 10,673 1,979 7,011 5,216 1,366 733 92 75 145,617
122,411 87,043 86,591 72,993 73,557 59,029 50,028 36,065 29,619 19,726 9,457 20,915 11,693 10,673 8,281 7,665 628 164 706,538
143,417 108,038 107,196 83,038 81,306 78,358 66,657 39,364 33,973 25,775 23,489 23,360 20,281 17,861 9,906 8,434 763 263 871,376
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
140
North Carolina Small Business Profile, 2017
NORTH DAKOTA 73,021 98.8%
209,576 58.1%
Small Businesses of North Dakota Businesses
DIVERSITY
EMPLOYMENT
10,985 net new jobs
Small Business Employees of North Dakota Employees
TRADE
3,180
82.3%
minority-owned businesses
of North Dakota exporters
OVERALL N ORTH DAKOTA E CONOMY • In the second quarter of 2016, North Dakota grew at an annual rate of -5.6%, which was slower than the overall US growth rate of 1.2%. North Dakota’s 2015 growth rate of -2.6% was down from the 2014 rate of 6.7%. (Source: BEA) • In November 2016, the unemployment rate was 2.9%, up from 2.7% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: North Dakota Employment by Business Size (Employees)
• North Dakota small businesses employed 209,576 people, or 58.1% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
300K
more than 500
• During the year ending November 2016, private-sector em ployment increased 3.8%. This was above the previous year’s decrease of 1.4%. (Source: CPS)
100 to 499
• The number of proprietors increased in 2015 by 1.8% rela tive to the previous year. (Source: BEA)
200K
100K
• Small businesses created 10,985 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 3,902 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 442 net jobs. (Source: BDS)
20 to 99
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
141
North Dakota Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 14,604 loans under $100,000 (valued at $241.8 million) were issued by North Dakota lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $52,392 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $35,779. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: North Dakota Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
491
6.0K
Asian
676
5.8K
Hawaiian/Pacific Islander
19
311
Hispanic
571
9.1K
Native American/Alaskan
1.5K
24.4K
Some other race
200
2.9K
Nonveteran
56.8K
488.5K
Veteran
6.6K
54.8K
Minority
3.2K
50.8K
Nonminority
62.1K
492.4K
Female
20.3K
269.2K
Male
36.9K
274.1K
No. of firms relative to working population
0
2
4
6
8
10
12
14
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 20.3K ÷269.2K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: North Dakota Quarterly Startups and Exits startups
• In the second quarter of 2015, 723 establishments started up, generating 2,771 new jobs in North Dakota. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 908 establishments exited resulting in 3,593 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
800
700
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
600
500
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
400
2000
SBA Office of Advocacy
2008
2016
142
North Dakota Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,804 companies exported goods from North Dakota in 2014. Among these, 1,484, or 82.3%, were small firms;
they generated 23.4% of North Dakota’s $4.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: North Dakota Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
30,403 26,333 25,893 21,175 14,140 13,144 12,017 11,632 11,292 8,761 8,620 8,220 4,450 4,054 3,737 3,270 1,417 378 209,576
38,022 51,115 59,713 24,304 23,754 14,103 24,862 19,777 15,641 25,691 17,594 15,265 5,628 5,501 4,830 6,769 s 501 360,970
80% 52% 43% 87% 60% 93% 48% 59% 72% 34% 49% 54% 79% 74% 77% 48% 75% 58%
Accommodation and Food Services Retail Trade Health Care and Social Assistance Construction Wholesale Trade Other Services (Except Public Administration) Manufacturing Transportation and Warehousing Professional, Scientific, and Technical Services Mining, Quarrying, and Oil and Gas Extraction Finance and Insurance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Educational Services Information Utilities Agriculture, Forestry, and Fishing and Hunting Total
Figure 4: North Dakota Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
51% to 65%
75% to 87%
65% to 75%
87% to 100%
143
North Dakota Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: North Dakota Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Retail Trade Real Estate and Rental and Leasing Professional, Scientific, and Technical Services Health Care and Social Assistance Transportation and Warehousing Administrative, Support, and Waste Management Finance and Insurance Arts, Entertainment, and Recreation Accommodation and Food Services Wholesale Trade Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Educational Services Manufacturing Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
2,387 3,010 2,133 883 1,623 1,506 1,481 915 997 391 1,698 963 413 110 136 631 190 43 19,433
2,248 2,789 1,784 824 1,458 1,248 1,326 816 901 336 1,254 659 303 108 89 474 136 24 16,823
7,287 5,886 5,930 7,083 5,101 5,126 2,981 3,373 2,464 2,274 717 726 1,024 1,311 1,176 638 426 65 53,588
9,674 8,896 8,063 7,966 6,724 6,632 4,462 4,288 3,461 2,665 2,415 1,689 1,437 1,421 1,312 1,269 616 108 73,021
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
144
North Dakota Small Business Profile, 2017
OHIO 939,317 99.6%
2.1 million 46.0%
Small Businesses of Ohio Businesses
DIVERSITY
EMPLOYMENT
122,602
29,312
minority-owned businesses
net new jobs
Small Business Employees of Ohio Employees
TRADE
89.1% of Ohio exporters
OVERALL O HIO E CONOMY • In the second quarter of 2016, Ohio grew at an annual rate of 1.9%, which was faster than the overall US growth rate of 1.2%. Ohio’s 2015 growth rate of 1.8% was down from the 2014 rate of 2.6%. (Source: BEA) • In November 2016, the unemployment rate was 4.9%, up from 4.8% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Ohio Employment by Business Size (Employees)
• Ohio small businesses employed 2.1 million people, or 46.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
4M
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.3%. This was above the previous year’s increase of 0.1%. (Source: CPS)
3M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499
2M
• Small businesses created 29,312 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 8,923 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 1,624 net jobs. (Source: BDS)
20 to 99 1M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
145
Ohio Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 142,036 loans under $100,000 (valued at $2.3 billion) were issued by Ohio lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $46,149 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,821. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Ohio Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
81.2K
1.1M
Asian
21.7K
154.9K
Hawaiian/Pacific Islander
468
1.7K
Hispanic
16.0K
232.5K
Native American/Alaskan
4.6K
17.8K
Some other race
6.5K
62.7K
Nonveteran
775.3K
8.2M
Veteran
91.2K
893.2K
Minority
122.6K
1.6M
Nonminority
758.6K
7.6M
Female
306.7K
4.7M
Male
509.2K
4.4M
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 306.7K ÷4.7M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Ohio Quarterly Startups and Exits startups
• In the second quarter of 2015, 5,299 establishments started up, generating 23,315 new jobs in Ohio. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
6.2K
• In the same period, 5,223 establishments exited resulting in 18,195 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
6.0K 5.8K 5.6K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
5.4K 5.2K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
5.0K
2000
SBA Office of Advocacy
2008
2016
146
Ohio Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 16,651 companies exported goods from Ohio in 2014. Among these, 14,841, or 89.1%, were small firms; they
generated 23.7% of Ohio’s $46.7 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Ohio Employment by Industry, 2014
Industry
Health Care and Social Assistance Manufacturing Accommodation and Food Services Retail Trade Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
348,896 294,400 268,333 184,653 174,099 155,691 144,514 134,231 129,500 58,236 56,446 54,804 43,654 39,851 22,867 5,381 2,928 1,032 2,134,290
821,510 642,967 454,253 560,265 200,893 239,703 171,719 231,383 386,828 248,251 160,148 117,751 66,373 62,801 87,746 11,060 24,334 1,193 4,636,844
42% 46% 59% 33% 87% 65% 84% 58% 33% 23% 35% 47% 66% 63% 26% 49% 12% 87% 46%
Figure 4: Ohio Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
147
31% to 47%
55% to 66%
47% to 55%
66% to 100%
Ohio Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Ohio Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Administrative, Support, and Waste Management Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Educational Services Manufacturing Wholesale Trade Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
24,445 21,235 19,164 19,728 6,844 19,460 10,777 5,382 3,446 7,814 16,528 2,552 11,949 10,320 1,528 260 541 145 181,553
22,652 19,353 17,592 17,611 6,317 15,901 9,339 4,527 2,910 7,144 12,591 1,836 8,219 8,181 1,206 248 467 93 156,487
109,911 96,138 90,660 67,966 80,470 67,367 65,962 38,943 38,601 22,014 10,650 22,865 13,310 12,821 8,946 6,490 4,083 567 757,764
134,356
117,373
109,824
87,694
87,314
86,827
76,739
44,325
42,047
29,828
27,178
25,417
25,259
23,141
10,474
6,750
4,624
712
939,317
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
148
Ohio Small Business Profile, 2017
OKLAHOMA 345,839 99.4%
709,118 52.1%
Small Businesses of Oklahoma Businesses
DIVERSITY
EMPLOYMENT
64,847
10,136
minority-owned businesses
net new jobs
Small Business Employees of Oklahoma Employees
TRADE
84.5% of Oklahoma exporters
OVERALL O KLAHOMA E CONOMY • In the second quarter of 2016, Oklahoma grew at an annual rate of -2.7%, which was slower than the overall US growth rate of 1.2%. Oklahoma’s 2015 growth rate of 2.2% was down from the 2014 rate of 3.9%. (Source: BEA) • In November 2016, the unemployment rate was 5.1%, up from 4.1% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Oklahoma Employment by Business Size • Oklahoma small businesses employed 709,118 people, or (Employees) 52.1% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.2M
1.0M
more than 500
• During the year ending November 2016, private-sector em ployment decreased 2.3%. This was below the previous year’s increase of 1.8%. (Source: CPS)
800.0K
600.0K
100 to 499
400.0K
20 to 99
• The number of proprietors increased in 2015 by 1.9% rela tive to the previous year. (Source: BEA) • Small businesses created 10,136 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 3,020 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 134 net jobs. (Source: BDS)
200.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
149
Oklahoma Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 49,945 loans under $100,000 (valued at $734.8 million) were issued by Oklahoma lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $45,655 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,607. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Oklahoma Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
13.9K
203.4K
Asian
9.6K
52.6K
Hawaiian/Pacific Islander
277
3.1K
Hispanic
14.6K
210.8K
Native American/Alaskan
27.4K
186.0K
Some other race
6.2K
63.1K
Nonveteran
273.0K
2.6M
Veteran
36.2K
322.0K
Minority
64.8K
809.8K
Nonminority
248.5K
2.1M
Female
105.1K
1.5M
Male
173.9K
1.4M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 105.1K ÷1.5M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Oklahoma Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,354 establishments started up, generating 9,816 new jobs in Oklahoma. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.4K
• In the same period, 2,545 establishments exited resulting in 9,058 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.3K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.2K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2.1K
2000
SBA Office of Advocacy
2008
2016
150
Oklahoma Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 3,288 companies exported goods from Oklahoma in 2014. Among these, 2,778, or 84.5%, were small firms; they
generated 28.1% of Oklahoma’s $5.7 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Oklahoma Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
112,829 87,728 70,650 62,282 57,086 57,041 50,604 42,397 37,882 29,578 25,187 17,447 15,064 14,958 11,110 7,954 3,035 826 709,118
216,386 145,160 180,524 69,894 136,360 62,414 70,078 103,837 61,306 58,121 58,924 48,614 27,847 22,849 21,669 29,272 8,240 933 1,359,851
52% 60% 39% 89% 42% 91% 72% 41% 62% 51% 43% 36% 54% 65% 51% 27% 37% 89% 52%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Manufacturing Other Services (Except Public Administration) Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Mining, Quarrying, and Oil and Gas Extraction Transportation and Warehousing Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Educational Services Information Utilities Agriculture, Forestry, and Fishing and Hunting Total
Figure 4: Oklahoma Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
33% to 56%
70% to 81%
56% to 70%
81% to 100%
151
Oklahoma Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Oklahoma Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Retail Trade Administrative, Support, and Waste Management Real Estate and Rental and Leasing Health Care and Social Assistance Mining, Quarrying, and Oil and Gas Extraction Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Manufacturing Wholesale Trade Educational Services Agriculture, Forestry, and Fishing and Hunting Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
8,242 8,057 8,856 8,028 3,774 3,254 8,164 2,777 2,039 965 3,772 5,167 2,967 3,343 647 145 657 113 70,825
7,639 7,370 8,306 7,183 3,322 3,068 6,998 2,456 1,758 796 3,430 3,864 2,221 2,602 528 140 536 70 62,398
45,733 36,230 30,051 25,776 26,212 24,163 17,915 15,412 11,291 10,894 8,039 3,818 4,197 3,737 5,375 3,252 2,690 229 275,014
53,975 44,287 38,907 33,804 29,986 27,417 26,079 18,189 13,330 11,859 11,811 8,985 7,164 7,080 6,022 3,397 3,347 342 345,839
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
152
Oklahoma Small Business Profile, 2017
OREGON 357,408 99.4%
801,666 55.5%
Small Businesses of Oregon Businesses
DIVERSITY
EMPLOYMENT
41,440
30,356
minority-owned businesses
net new jobs
Small Business Employees of Oregon Employees
TRADE
88.6% of Oregon exporters
OVERALL O REGON E CONOMY • In the second quarter of 2016, Oregon grew at an annual rate of 1.8%, which was faster than the overall US growth rate of 1.2%. Oregon’s 2015 growth rate of 4.9% was up from the 2014 rate of 1.3%. (Source: BEA) • In November 2016, the unemployment rate was 5.0%, down from 5.5% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Oregon Employment by Business Size (Employees)
• Oregon small businesses employed 801,666 people, or 55.5% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
more than 500
• During the year ending November 2016, private-sector em ployment increased 5.0%. This was above the previous year’s increase of 2.9%. (Source: CPS)
1M
500K
100 to 499
• The number of proprietors increased in 2015 by 3.0% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses created 30,356 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 6,695 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 2,916 net jobs. (Source: BDS)
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
153
Oregon Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 77,935 loans under $100,000 (valued at $997.5 million) were issued by Oregon lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,147 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,672. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Oregon Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
5.1K
52.0K
Asian
16.2K
115.9K
Hawaiian/Pacific Islander
1.0K
10.1K
Hispanic
15.4K
288.1K
Native American/Alaskan
4.8K
38.9K
Some other race
6.6K
96.4K
Nonveteran
288.4K
2.7M
Veteran
30.9K
333.4K
Minority
41.4K
565.6K
Nonminority
284.6K
2.5M
Female
123.0K
1.6M
Male
165.3K
1.5M
No. of firms relative to working population
0
2
4
6
8
10
12
14
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 123.0K ÷1.6M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Oregon Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,937 establishments started up, generating 9,605 new jobs in Oregon. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
3.0K
• In the same period, 2,702 establishments exited resulting in 8,398 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.8K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.2K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2.6K
2000
SBA Office of Advocacy
2008
2016
154
Oregon Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 6,084 companies exported goods from Oregon in 2014. Among these, 5,390, or 88.6%, were small firms; they
generated 30.0% of Oregon’s $19.6 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Oregon Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Manufacturing Retail Trade Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Administrative, Support, and Waste Management Wholesale Trade Real Estate and Rental and Leasing Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
116,381 111,858 81,813 81,425 64,319 59,006 57,712 45,998 43,913 21,560 21,240 21,119 21,052 19,707 14,487 10,835 1,160 774 801,666
161,421 227,540 161,572 196,582 76,858 85,552 64,647 92,991 74,136 27,472 60,484 52,165 35,619 25,982 37,311 11,976 7,833 1,272 1,444,041
72% 49% 51% 41% 84% 69% 89% 49% 59% 78% 35% 40% 59% 76% 39% 90% 15% 61% 56%
Figure 4: Oregon Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
155
35% to 60%
67% to 84%
60% to 67%
84% to 100%
Oregon Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Oregon Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Real Estate and Rental and Leasing Health Care and Social Assistance Retail Trade Construction Arts, Entertainment, and Recreation Administrative, Support, and Waste Management Accommodation and Food Services Manufacturing Transportation and Warehousing Educational Services Finance and Insurance Wholesale Trade Agriculture, Forestry, and Fishing and Hunting Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
11,017 8,952 4,651 9,781 8,962 11,176 1,635 4,679 8,520 4,737 2,407 1,356 3,050 3,975 1,266 1,175 112 105 87,507
10,323 8,381 4,395 8,680 7,987 10,531 1,390 4,153 6,924 3,694 2,074 1,086 2,797 3,138 1,107 980 87 90 78,150
45,950 33,468 31,859 24,861 23,959 20,591 20,060 16,965 4,220 7,367 9,540 8,216 6,461 4,944 6,191 4,893 191 165 269,901
56,967 42,420 36,510 34,642 32,921 31,767 21,695 21,644 12,740 12,104 11,947 9,572 9,511 8,919 7,457 6,068 303 270 357,408
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
156
Oregon Small Business Profile, 2017
PENNSYLVANIA 1.0 million 99.6%
2.5 million 46.8%
Small Businesses of Pennsylvania Businesses
DIVERSITY
EMPLOYMENT
29,846 net new jobs
Small Business Employees of Pennsylvania Employees
TRADE
131,462
89.1%
minority-owned businesses
of Pennsylvania exporters
OVERALL P ENNSYLVANIA E CONOMY • In the second quarter of 2016, Pennsylvania grew at an annual rate of 0.5%, which was slower than the overall US growth rate of 1.2%. Pennsylvania’s 2015 growth rate of 2.8% was up from the 2014 rate of 1.8%. (Source: BEA) • In November 2016, the unemployment rate was 5.7%, up from 4.7% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Pennsylvania Employment by Business Size (Employees)
• Pennsylvania small businesses employed 2.5 million people, or 46.8% of the private workforce, in 2014. (Source: SUSB)
5M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
4M
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.4%. This was below the previous year’s increase of 1.1%. (Source: CPS)
3M
• The number of proprietors increased in 2015 by 2.9% rela tive to the previous year. (Source: BEA)
100 to 499
2M
• Small businesses created 29,846 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 13,291 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 1,660 net jobs. (Source: BDS)
20 to 99 1M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
157
Pennsylvania Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 178,413 loans under $100,000 (valued at $3.1 billion) were issued by Pennsylvania lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $50,720 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $24,797. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Pennsylvania Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
56.7K
1.0M
Asian
39.6K
278.4K
Hawaiian/Pacific Islander
513
3.0K 489.6K
Hispanic
34.8K
Native American/Alaskan
3.8K
15.0K
Some other race
16.2K
172.2K
Nonveteran
836.9K
9.3M
Veteran
97.9K
981.9K
Minority
131.5K
1.9M
Nonminority
817.9K
8.4M
Female
304.7K
5.3M
Male
578.5K
4.9M
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 304.7K ÷5.3M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Pennsylvania Quarterly Startups and Exits startups
• In the second quarter of 2015, 6,741 establishments started up, generating 23,946 new jobs in Pennsylvania. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 6,267 establishments exited resulting in 20,448 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
7.5K
7.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
6.5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
158
Pennsylvania Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 15,758 companies exported goods from Pennsylvania in 2014. Among these, 14,039, or 89.1%, were small firms;
they generated 32.2% of Pennsylvania’s $36.4 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Pennsylvania Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
395,440 284,087 264,437 248,690 217,189 195,174 182,826 140,132 138,439 77,459 75,037 72,580 55,571 44,428 31,642 12,114 2,414 2,364 2,459,725
973,465 451,608 548,672 660,341 240,676 321,707 220,397 247,762 317,760 212,457 266,219 261,755 103,847 61,466 117,903 32,193 2,432 29,456 5,255,409
41% 63% 48% 38% 90% 61% 83% 57% 44% 36% 28% 28% 54% 72% 27% 38% 99% 8% 47%
Health Care and Social Assistance Accommodation and Food Services Manufacturing Retail Trade Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Wholesale Trade Administrative, Support, and Waste Management Transportation and Warehousing Finance and Insurance Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Utilities Total
Figure 4: Pennsylvania Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
37% to 50%
56% to 63%
50% to 56%
63% to 100%
159
Pennsylvania Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Pennsylvania Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Finance and Insurance Educational Services Manufacturing Wholesale Trade Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
26,560 33,421 25,823 25,516 6,848 23,498 12,601 4,202 6,553 22,361 8,805 3,173 11,763 11,203 2,224 475 801 159 225,382
24,174 31,362 23,894 22,638 6,281 19,556 11,061 3,508 5,435 18,380 7,980 2,272 8,308 8,952 1,766 452 640 116 197,078
117,598 109,368 92,987 78,791 85,909 63,370 55,694 45,181 35,241 12,748 25,718 26,637 14,185 14,132 10,387 7,539 3,324 854 799,663
144,158
142,789
118,810
104,307
92,757
86,868
68,295
49,383
41,794
35,109
34,523
29,810
25,948
25,335
12,611
8,014
4,125
1,013
1,025,045
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
160
Pennsylvania Small Business Profile, 2017
RHODE ISLAND 98,134 98.9%
225,671 53.5%
Small Businesses of Rhode Island Businesses
DIVERSITY
EMPLOYMENT
2,958 net new jobs
Small Business Employees of Rhode Island Employees
TRADE
14,729
88.2%
minority-owned businesses
of Rhode Island exporters
OVERALL R HODE I SLAND E CONOMY • In the second quarter of 2016, Rhode Island grew at an annual rate of 0.2%, which was slower than the overall US growth rate of 1.2%. Rhode Island’s 2015 growth rate of 1.4% was up from the 2014 rate of 1.0%. (Source: BEA) • In November 2016, the unemployment rate was 5.3%, down from 5.4% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Rhode Island Employment by Business Size (Employees)
• Rhode Island small businesses employed 225,671 people, or 53.5% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
400K
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.8%. This was below the previous year’s increase of 1.0%. (Source: CPS)
300K
200K
100 to 499
• The number of proprietors increased in 2015 by 3.2% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses created 2,958 net jobs in 2014. Among the seven BDS size-classes, firms employing 50 to 99 em ployees experienced the largest gains, adding 1,017 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 308 net jobs. (Source: BDS)
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
161
Rhode Island Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 15,478 loans under $100,000 (valued at $224.4 million) were issued by Rhode Island lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $48,431 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $26,331. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Rhode Island Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
3.4K
48.0K
Asian
2.9K
25.4K
Hawaiian/Pacific Islander
62
250
Hispanic
8.4K
90.7K
Native American/Alaskan
673
3.5K
Some other race
4.6K
46.0K
Nonveteran
79.7K
782.5K
Veteran
9.9K
75.0K
Minority
14.7K
177.6K
Nonminority
76.9K
679.8K
Female
30.5K
449.2K
Male
54.5K
408.2K
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 30.5K ÷449.2K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Rhode Island Quarterly Startups and Exits startups
• In the second quarter of 2015, 937 establishments started up, generating 2,438 new jobs in Rhode Island. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 837 establishments exited resulting in 2,336 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
900
850
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
800
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
162
Rhode Island Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,849 companies exported goods from Rhode Island in 2014. Among these, 1,631, or 88.2%, were small firms;
they generated 61.0% of Rhode Island’s $2.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Rhode Island Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Manufacturing Retail Trade Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Educational Services Arts, Entertainment, and Recreation Transportation and Warehousing Real Estate and Rental and Leasing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
44,690 33,149 26,521 18,626 15,834 15,143 14,919 12,548 11,758 6,962 6,605 5,896 4,632 4,063 2,565 133 112 s 225,671
86,190 46,134 39,275 48,991 22,380 16,906 15,915 22,039 20,454 26,751 30,177 10,503 10,159 5,390 7,458 133 151 1,066 421,578
52% 72% 68% 38% 71% 90% 94% 57% 57% 26% 22% 56% 46% 75% 34% 100% 74% 54%
Figure 4: Rhode Island Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
163
52%
62%
57%
68%
Rhode Island Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Rhode Island Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Accommodation and Food Services Educational Services Transportation and Warehousing Finance and Insurance Manufacturing Wholesale Trade Agriculture, Forestry, and Fishing and Hunting Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
2,744 2,686 2,938 840 2,568 2,314 1,502 472 2,536 375 519 668 1,343 1,093 39 235 13 18 22,911
2,531 2,539 2,800 776 2,336 1,896 1,355 393 1,998 278 458 583 995 864 37 193 12 17 20,116
11,838 11,351 8,439 9,493 5,536 5,678 5,477 4,745 993 2,661 2,380 2,008 1,177 1,215 1,177 941 106 8 75,223
14,582 14,037 11,377 10,333 8,104 7,992 6,979 5,217 3,529 3,036 2,899 2,676 2,520 2,308 1,216 1,176 119 26 98,134
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
164
Rhode Island Small Business Profile, 2017
SOUTH CAROLINA 395,068 99.4%
758,318 46.9%
Small Businesses of South Carolina Businesses
DIVERSITY
EMPLOYMENT
17,129 net new jobs
Small Business Employees of South Carolina Employees
TRADE
83,201
85.0%
minority-owned businesses
of South Carolina exporters
OVERALL S OUTH C AROLINA E CONOMY • In the second quarter of 2016, South Carolina grew at an annual rate of 1.4%, which was faster than the overall US growth rate of 1.2%. South Carolina’s 2015 growth rate of 2.5% was down from the 2014 rate of 2.8%. (Source: BEA) • In November 2016, the unemployment rate was 4.4%, down from 5.5% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: South Carolina Employment by Business • South Carolina small businesses employed 758,318 people, Size (Employees) or 46.9% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1.5M
more than 500
• During the year ending November 2016, private-sector em ployment increased 3.0%. This was above the previous year’s increase of 2.2%. (Source: CPS)
1.0M
• The number of proprietors increased in 2015 by 3.1% rela tive to the previous year. (Source: BEA)
100 to 499 500.0K
• Small businesses created 17,129 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 4,682 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 917 net jobs. (Source: BDS)
20 to 99
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
165
South Carolina Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 57,877 loans under $100,000 (valued at $850.3 million) were issued by South Carolina lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $44,489 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $20,499. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: South Carolina Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
61.9K
985.0K
Asian
9.5K
46.2K
Hawaiian/Pacific Islander
191
1.3K
Hispanic
10.3K
157.7K
Native American/Alaskan
2.4K
12.1K
Some other race
3.6K
51.8K
Nonveteran
302.6K
3.3M
Veteran
47.9K
396.9K
Minority
83.2K
1.2M
Nonminority
275.7K
2.4M
Female
131.8K
1.9M
Male
201.9K
1.8M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 131.8K ÷1.9M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: South Carolina Quarterly Startups and Exits startups
• In the second quarter of 2015, 3,017 establishments started up, generating 10,742 new jobs in South Carolina. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 2,561 establishments exited resulting in 7,630 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.8K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.6K
2.4K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
166
South Carolina Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 6,162 companies exported goods from South Carolina in 2014. Among these, 5,240, or 85.0%, were small firms;
they generated 12.1% of South Carolina’s $28.2 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: South Carolina Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Manufacturing Retail Trade Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Professional, Scientific, and Technical Services Wholesale Trade Finance and Insurance Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Educational Services Transportation and Warehousing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
127,034 101,213 73,209 73,155 70,718 60,777 53,304 51,796 36,593 21,693 20,481 17,323 16,776 16,584 6,769 3,573 2,561 470 758,318
199,513 221,357 219,826 229,453 79,912 71,095 163,188 83,937 69,177 67,780 25,057 23,974 30,913 55,369 34,371 3,785 12,123 1,032 1,617,249
64% 46% 33% 32% 88% 85% 33% 62% 53% 32% 82% 72% 54% 30% 20% 94% 21% 46% 47%
Figure 4: South Carolina Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
167
36% to 46%
51% to 63%
46% to 51%
63% to 100%
South Carolina Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: South Carolina Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Real Estate and Rental and Leasing Administrative, Support, and Waste Management Retail Trade Health Care and Social Assistance Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Finance and Insurance Educational Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
10,407 8,884 8,662 3,793 4,661 10,052 7,345 1,420 1,862 7,154 3,015 1,037 3,578 3,013 566 490 79 46 76,022
9,664 8,255 7,979 3,565 4,109 9,200 6,240 1,154 1,575 5,315 2,775 832 2,873 2,118 463 448 47 38 66,811
58,971 36,293 35,738 35,851 34,114 27,450 22,828 15,269 13,251 5,554 9,659 8,238 5,324 4,189 3,414 2,564 249 90 319,046
69,378 45,177 44,400 39,644 38,775 37,502 30,173 16,689 15,113 12,708 12,674 9,275 8,902 7,202 3,980 3,054 328 136 395,068
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
168
South Carolina Small Business Profile, 2017
SOUTH DAKOTA 84,440 99.0%
207,088 59.5%
Small Businesses of South Dakota Businesses
DIVERSITY
EMPLOYMENT
5,431 net new jobs
Small Business Employees of South Dakota Employees
TRADE
4,096
74.8%
minority-owned businesses
of South Dakota exporters
OVERALL S OUTH DAKOTA E CONOMY • In the second quarter of 2016, South Dakota grew at an annual rate of -1.0%, which was slower than the overall US growth rate of 1.2%. South Dakota’s 2015 growth rate of 2.6% was up from the 2014 rate of 0.7%. (Source: BEA) • In November 2016, the unemployment rate was 2.7%, down from 2.9% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: South Dakota Employment by Business Size (Employees)
• South Dakota small businesses employed 207,088 people, or 59.5% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
300K
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.9%. This was below the previous year’s increase of 1.1%. (Source: CPS)
200K
100 to 499
• The number of proprietors increased in 2015 by 1.9% rela tive to the previous year. (Source: BEA)
20 to 99
100K
• Small businesses created 5,431 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 2,496 net jobs. The largest losses were in firms employing 250 to 499 employees, which lost 169 net jobs. (Source: BDS)
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
169
South Dakota Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 14,222 loans under $100,000 (valued at $256.4 million) were issued by South Dakota lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $43,594 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $31,236. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: South Dakota Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
527
7.1K
Asian
789
6.3K
Hawaiian/Pacific Islander
11
142
Hispanic
827
14.3K
Native American/Alaskan
2.0K
46.3K
Some other race
265
4.9K
Nonveteran
66.1K
566.9K
Veteran
8.6K
69.8K
Minority
4.1K
81.1K
Nonminority
74.1K
555.5K
Female
23.7K
320.2K
Male
42.3K
316.5K
No. of firms relative to working population
0
2
4
6
8
10
12
14
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 23.7K ÷320.2K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: South Dakota Quarterly Startups and Exits startups
• In the second quarter of 2015, 643 establishments started up, generating 2,009 new jobs in South Dakota. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
600
• In the same period, 528 establishments exited resulting in 1,470 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
550
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
650
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
500
2000
SBA Office of Advocacy
2008
2016
170
South Dakota Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 982 companies exported goods from South Dakota in 2014. Among these, 735, or 74.8%, were small firms; they
generated 32.2% of South Dakota’s $1.4 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: South Dakota Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Retail Trade Manufacturing Construction Other Services (Except Public Administration) Wholesale Trade Finance and Insurance Professional, Scientific, and Technical Services Transportation and Warehousing Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Educational Services Information Real Estate and Rental and Leasing Utilities Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
31,472 30,170 26,875 19,289 17,809 14,124 12,869 9,805 9,546 6,708 6,513 5,653 5,581 3,840 3,336 1,123 858 377 207,088
40,067 65,356 52,061 44,065 18,263 14,546 18,469 26,365 11,805 10,457 10,787 6,190 7,724 6,917 3,834 2,246 1,172 385 347,819
79% 46% 52% 44% 98% 97% 70% 37% 81% 64% 60% 91% 72% 56% 87% 50% 73% 98% 60%
Figure 4: South Dakota Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
171
31% to 69%
81% to 91%
69% to 81%
91% to 100%
South Dakota Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: South Dakota Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Retail Trade Real Estate and Rental and Leasing Professional, Scientific, and Technical Services Health Care and Social Assistance Administrative, Support, and Waste Management Finance and Insurance Transportation and Warehousing Arts, Entertainment, and Recreation Accommodation and Food Services Agriculture, Forestry, and Fishing and Hunting Manufacturing Wholesale Trade Educational Services Information Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
2,618 3,228 2,699 846 1,725 1,726 955 1,127 1,034 627 2,004 133 858 960 211 271 48 58 21,056
2,477 3,050 2,367 796 1,615 1,426 873 1,025 937 561 1,554 130 630 676 153 212 38 33 18,584
8,978 7,416 7,695 7,994 6,058 4,869 3,742 2,921 3,010 3,379 968 2,161 1,006 890 1,538 599 88 72 63,384
11,596 10,644 10,394 8,840 7,783 6,595 4,697 4,048 4,044 4,006 2,972 2,294 1,864 1,850 1,749 870 136 130 84,440
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
172
South Dakota Small Business Profile, 2017
TENNESSEE 580,453 99.5%
1.1 million 42.9%
Small Businesses of Tennessee Businesses
DIVERSITY
EMPLOYMENT
105,187
25,067
minority-owned businesses
net new jobs
Small Business Employees of Tennessee Employees
TRADE
83.1% of Tennessee exporters
OVERALL T ENNESSEE E CONOMY • In the second quarter of 2016, Tennessee grew at an annual rate of 1.7%, which was faster than the overall US growth rate of 1.2%. Tennessee’s 2015 growth rate of 2.7% was up from the 2014 rate of 1.7%. (Source: BEA) • In November 2016, the unemployment rate was 4.8%, down from 5.6% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
2.5M
Figure 1: Tennessee Employment by Business Size • Tennessee small businesses employed 1.1 million people, (Employees) or 42.9% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
more than 500
• During the year ending November 2016, private-sector em ployment increased 5.0%. This was above the previous year’s increase of 1.6%. (Source: CPS)
1.5M
1.0M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499
• Small businesses created 25,067 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 7,267 net jobs. The largest losses were in firms employing 1 to 4 employees, which lost 278 net jobs. (Source: BDS)
20 to 99
500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
173
Tennessee Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 69,897 loans under $100,000 (valued at $960.4 million) were issued by Tennessee lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $50,778 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,410. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Tennessee Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
73.7K
796.8K
Asian
14.3K
72.6K
Hawaiian/Pacific Islander
276
2.0K
Hispanic
13.7K
188.4K
Native American/Alaskan
3.9K
13.1K
Some other race
6.3K
59.4K
Nonveteran
468.7K
4.5M
Veteran
59.3K
494.0K
Minority
105.2K
1.1M
Nonminority
433.3K
3.9M
Female
195.6K
2.6M
Male
301.5K
2.4M
No. of firms relative to working population
0
5
10
15
20
25
30
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 195.6K ÷2.6M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Tennessee Quarterly Startups and Exits startups
• In the second quarter of 2015, 3,424 establishments started up, generating 14,071 new jobs in Tennessee. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 3,194 establishments exited resulting in 11,826 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
3.4K 3.3K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.2K 3.1K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
3.0K
2000
SBA Office of Advocacy
2008
2016
174
Tennessee Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 7,326 companies exported goods from Tennessee in 2014. Among these, 6,091, or 83.1%, were small firms; they
generated 15.9% of Tennessee’s $31.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Tennessee Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
157,468 139,559 105,170 101,927 94,276 83,123 68,643 67,282 60,878 40,546 31,660 27,811 24,140 21,207 12,963 2,447 2,151 1,824 1,051,943
391,560 257,733 316,203 308,546 107,552 102,065 237,740 116,294 113,776 110,664 129,497 58,354 33,244 31,947 47,427 3,236 3,265 1,925 2,453,470
40% 54% 33% 33% 88% 81% 29% 58% 54% 37% 24% 48% 73% 66% 27% 76% 66% 95% 43%
Health Care and Social Assistance Accommodation and Food Services Retail Trade Manufacturing Other Services (Except Public Administration) Construction Administrative, Support, and Waste Management Professional, Scientific, and Technical Services Wholesale Trade Finance and Insurance Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Real Estate and Rental and Leasing Information Utilities Mining, Quarrying, and Oil and Gas Extraction Agriculture, Forestry, and Fishing and Hunting Total
Figure 4: Tennessee Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
33% to 47%
53% to 70%
47% to 53%
70% to 100%
175
Tennessee Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Tennessee Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Retail Trade Administrative, Support, and Waste Management Health Care and Social Assistance Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Transportation and Warehousing Finance and Insurance Accommodation and Food Services Educational Services Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
12,834 9,007 9,708 13,011 5,135 10,543 3,695 2,237 2,705 4,097 8,088 1,169 4,788 4,585 1,248 228 109 47 93,112
11,805 8,007 8,852 11,778 4,352 8,956 3,398 1,940 2,223 3,606 5,991 864 3,671 3,232 1,045 215 82 17 80,234
90,777 62,600 54,756 43,057 50,852 36,127 39,407 29,815 21,584 13,351 7,829 11,747 7,252 6,391 6,725 4,440 327 304 487,341
103,611 71,607 64,464 56,068 55,987 46,670 43,102 32,052 24,289 17,448 15,917 12,916 12,040 10,976 7,973 4,668 436 351 580,453
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
176
Tennessee Small Business Profile, 2017
TEXAS 2.6 million 99.8%
4.6 million 45.9%
Small Businesses of Texas Businesses
DIVERSITY
EMPLOYMENT
1.1 million
178,892
minority-owned businesses
net new jobs
Small Business Employees of Texas Employees
TRADE
93.1% of Texas exporters
OVERALL T EXAS E CONOMY • In the second quarter of 2016, Texas grew at an annual rate of -0.8%, which was slower than the overall US growth rate of 1.2%. Texas’s 2015 growth rate of 4.8% was unchanged from the 2014 rate of 4.8%. (Source: BEA) • In November 2016, the unemployment rate was 4.6%, unchanged from 4.6% at the close of 2015. This was equal to the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Texas Employment by Business Size (Employees)
• Texas small businesses employed 4.6 million people, or 45.9% of the private workforce, in 2014. (Source: SUSB)
10M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
8M
• During the year ending November 2016, private-sector em ployment increased 2.1%. This was above the previous year’s increase of 0.8%. (Source: CPS)
more than 500
6M
• The number of proprietors increased in 2015 by 2.5% rela tive to the previous year. (Source: BEA)
4M
100 to 499
• Small businesses created 178,892 net jobs in 2014. Among the seven BDS size-classes, firms employing 100 to 249 employees experienced the largest gains, adding 35,199 net jobs. The smallest gains were in firms employing 5 to 9 employees, which added 16,810 net jobs. (Source: BDS)
20 to 99
2M
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
177
Texas Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 421,254 loans under $100,000 (valued at $6.2 billion) were issued by Texas lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $51,859 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,181. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Texas Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
217.3K
2.2M
Asian
155.7K
764.4K
Hawaiian/Pacific Islander
2.2K
15.8K
Hispanic
687.5K
6.5M
Native American/Alaskan
22.2K
97.6K
Some other race
189.3K
1.3M
Nonveteran
2.1M
17.5M
Veteran
213.4K
1.6M
Minority
1.1M
9.7M
Nonminority
1.2M
9.4M
Female
866.5K
9.7M
Male
1.3M
9.4M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 866.5K ÷9.7M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Texas Quarterly Startups and Exits startups
• In the second quarter of 2015, 16,545 establishments started up, generating 69,598 new jobs in Texas. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
16K
• In the same period, 14,660 establishments exited resulting in 58,635 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
15K 14K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
13K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
12K
2000
SBA Office of Advocacy
2008
2016
178
Texas Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 41,881 companies exported goods from Texas in 2014. Among these, 39,005, or 93.1%, were small firms; they
generated 37.6% of Texas’s $270.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Texas Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Construction Professional, Scientific, and Technical Services Retail Trade Other Services (Except Public Administration) Manufacturing Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Transportation and Warehousing Real Estate and Rental and Leasing Mining, Quarrying, and Oil and Gas Extraction Educational Services Arts, Entertainment, and Recreation Information Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
663,927 592,705 425,743 393,187 383,763 358,176 342,812 316,361 277,857 158,570 140,891 116,574 104,327 92,987 76,142 56,103 13,552 6,216 4,553,243
1,411,362 1,068,269 609,840 664,995 1,242,045 434,963 807,515 915,477 511,123 495,507 407,143 187,448 250,806 177,409 128,127 231,382 52,851 7,782 9,920,214
47% 55% 70% 59% 31% 82% 42% 35% 54% 32% 35% 62% 42% 52% 59% 24% 26% 80% 46%
Figure 4: Texas Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
179
19% to 55%
66% to 80%
55% to 66%
80% to 100%
Texas Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Texas Small Businesses by Industry and Firm Size, 2014
Industry
Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Administrative, Support, and Waste Management Retail Trade Health Care and Social Assistance Real Estate and Rental and Leasing Transportation and Warehousing Arts, Entertainment, and Recreation Finance and Insurance Accommodation and Food Services Wholesale Trade Educational Services Manufacturing Mining, Quarrying, and Oil and Gas Extraction Information Agriculture, Forestry, and Fishing and Hunting Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
44,727 59,638 39,230 21,749 44,807 50,957 19,968 13,336 5,869 18,987 34,547 24,539 5,746 16,639 7,188 4,192 976 929 413,777
40,760 55,239 34,422 18,327 40,808 44,243 18,728 11,427 4,998 17,328 25,782 20,361 4,587 12,238 5,883 3,427 910 777 361,282
324,512 270,855 273,286 228,836 182,912 155,875 179,186 128,270 87,439 71,125 40,591 36,179 52,524 33,339 40,324 23,592 19,128 2,729 2,150,702
369,239 330,493 312,516 250,585 227,719 206,832 199,154 141,606 93,308 90,112 75,138 60,718 58,270 49,978 47,512 27,784 20,104 3,658 2,564,479
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
180
Texas Small Business Profile, 2017
UTAH 268,872 99.3%
540,268 47.1%
Small Businesses of Utah Businesses
DIVERSITY
EMPLOYMENT
24,406
28,589
minority-owned businesses
net new jobs
Small Business Employees of Utah Employees
TRADE
85.6% of Utah exporters
OVERALL U TAH E CONOMY • In the second quarter of 2016, Utah grew at an annual rate of 3.3%, which was faster than the overall US growth rate of 1.2%. Utah’s 2015 growth rate of 3.4% was up from the 2014 rate of 3.1%. (Source: BEA) • In November 2016, the unemployment rate was 3.1%, down from 3.4% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Utah Employment by Business Size (Employees)
• Utah small businesses employed 540,268 people, or 47.1% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
1M
800K
• During the year ending November 2016, private-sector em ployment increased 3.2%. This was above the previous year’s increase of 2.4%. (Source: CPS)
more than 500
600K
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499
400K
• Small businesses created 28,589 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 7,130 net jobs. The smallest gains were in firms employing 10 to 19 employees, which added 2,441 net jobs. (Source: BDS)
20 to 99 200K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
181
Utah Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 57,104 loans under $100,000 (valued at $848.5 million) were issued by Utah lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $49,214 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $18,200. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Utah Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
1.8K
19.1K
Asian
6.3K
45.1K
Hawaiian/Pacific Islander
1.3K
16.7K
Hispanic
13.7K
228.2K
Native American/Alaskan
1.6K
22.0K
Some other race
5.9K
64.4K
Nonveteran
219.4K
1.8M
Veteran
18.7K
146.5K
Minority
24.4K
350.9K
Nonminority
218.4K
1.6M
Female
76.2K
995.9K
Male
131.8K
988.7K
No. of firms relative to working population
0
2
4
6
8
10
12
14
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 8 female-owned firms per 100 working age females or 76.2K ÷995.9K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Utah Quarterly Startups and Exits startups
• In the second quarter of 2015, 2,797 establishments started up, generating 8,423 new jobs in Utah. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
2.8K
• In the same period, 2,326 establishments exited resulting in 6,151 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
2.6K 2.4K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
2.2K 2.0K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
1.8K
2000
SBA Office of Advocacy
2008
2016
182
Utah Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 3,544 companies exported goods from Utah in 2014. Among these, 3,033, or 85.6%, were small firms; they
generated 33.9% of Utah’s $11.0 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Utah Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Construction Retail Trade Manufacturing Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Wholesale Trade Other Services (Except Public Administration) Finance and Insurance Transportation and Warehousing Educational Services Real Estate and Rental and Leasing Information Arts, Entertainment, and Recreation Mining, Quarrying, and Oil and Gas Extraction Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
65,681 65,073 58,788 55,735 51,102 51,062 34,072 31,348 25,913 21,274 16,439 15,141 14,389 13,472 11,384 3,967 1,093 431 540,268
104,992 128,811 68,110 142,367 114,537 91,966 121,985 55,009 50,550 60,036 48,590 43,747 19,075 41,865 19,846 11,370 s 456 1,148,251
63% 51% 86% 39% 45% 56% 28% 57% 51% 35% 34% 35% 75% 32% 57% 35% 95% 47%
Figure 4: Utah Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
183
41% to 57%
75% to 90%
57% to 75%
90% to 100%
Utah Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Utah Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Other Services (Except Public Administration) Retail Trade Construction Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Finance and Insurance Educational Services Transportation and Warehousing Manufacturing Wholesale Trade Accommodation and Food Services Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
8,970 4,246 4,266 5,776 8,474 6,304 3,563 984 3,014 956 1,877 2,838 2,830 3,748 909 80 426 73 59,229
8,341 4,086 3,990 5,109 7,862 5,646 3,194 851 2,792 754 1,650 2,188 2,223 2,763 724 76 364 64 52,760
34,349 31,857 27,764 22,887 16,865 12,809 13,003 11,548 8,934 7,349 6,074 4,205 3,928 2,075 3,963 1,369 520 144 209,643
43,319 36,103 32,030 28,663 25,339 19,113 16,566 12,532 11,948 8,305 7,951 7,043 6,758 5,823 4,872 1,449 946 217 268,872
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
184
Utah Small Business Profile, 2017
VERMONT 77,543 99.1%
156,243 59.8%
Small Businesses of Vermont Businesses
DIVERSITY
EMPLOYMENT
2,350
2,124
minority-owned businesses
net new jobs
Small Business Employees of Vermont Employees
TRADE
84.7% of Vermont exporters
OVERALL V ERMONT E CONOMY • In the second quarter of 2016, Vermont grew at an annual rate of 1.4%, which was faster than the overall US growth rate of 1.2%. Vermont’s 2015 growth rate of 0.4% was up from the 2014 rate of 0.2%. (Source: BEA) • In November 2016, the unemployment rate was 3.2%, down from 3.5% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Vermont Employment by Business Size (Employees)
• Vermont small businesses employed 156,243 people, or 59.8% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
250K
more than 500 200K
150K
• During the year ending November 2016, private-sector em ployment increased 0.9%. This was above the previous year’s decrease of 0.6%. (Source: CPS)
100 to 499
• The number of proprietors increased in 2015 by 2.9% rela tive to the previous year. (Source: BEA)
100K
20 to 99
• Small businesses created 2,124 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 986 net jobs. The largest losses were in firms employing 100 to 249 em ployees, which lost 192 net jobs. (Source: BDS)
50K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
185
Vermont Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 10,354 loans under $100,000 (valued at $147.7 million) were issued by Vermont lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $45,828 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,499. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Vermont Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
391
4.3K
Asian
868
6.3K
Hawaiian/Pacific Islander
13
124
Hispanic
682
7.0K
Native American/Alaskan
425
1.5K
Some other race
142
1.4K
Nonveteran
63.2K
463.3K
Veteran
8.2K
50.7K
Minority
2.4K
26.0K
Nonminority
70.4K
488.0K
Female
23.4K
263.1K
Male
41.2K
250.9K
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 23.4K ÷263.1K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Vermont Quarterly Startups and Exits startups
• In the second quarter of 2015, 476 establishments started up, generating 1,217 new jobs in Vermont. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 494 establishments exited resulting in 1,423 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
500
480
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
460
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
440
2000
SBA Office of Advocacy
2008
2016
186
Vermont Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,282 companies exported goods from Vermont in 2014. Among these, 1,086, or 84.7%, were small firms; they
generated 18.4% of Vermont’s $3.5 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Vermont Employment by Industry, 2014
Industry
Health Care and Social Assistance Retail Trade Accommodation and Food Services Manufacturing Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Wholesale Trade Educational Services Finance and Insurance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Information Transportation and Warehousing Real Estate and Rental and Leasing Utilities Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Total
Small Business Employment
Total Private Employment
Small Business Employment Share
22,644 22,452 20,894 15,729 12,531 10,129 9,059 8,085 7,465 5,495 4,949 4,475 3,936 3,544 2,622 457 451 385 156,243
46,691 38,530 31,142 29,823 13,483 18,079 9,331 11,195 15,665 9,034 7,756 8,174 6,924 5,783 3,485 s 451 423 261,058
48% 58% 67% 53% 93% 56% 97% 72% 48% 61% 64% 55% 57% 61% 75% 100% 91% 60%
Figure 4: Vermont Small Business Percent of Employment by County
Small Business Employment 56% to 62%
71%
62% to 71%
SBA Office of Advocacy
187
Vermont Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Vermont Small Businesses by Industry and Firm Size, 2014
Industry Construction Professional, Scientific, and Technical Services Other Services (Except Public Administration) Retail Trade Health Care and Social Assistance Real Estate and Rental and Leasing Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Manufacturing Accommodation and Food Services Educational Services Agriculture, Forestry, and Fishing and Hunting Transportation and Warehousing Wholesale Trade Finance and Insurance Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
2,628 1,965 1,913 2,290 1,632 641 985 437 894 1,684 346 140 421 609 425 329 18 38 17,362
2,510 1,856 1,835 1,984 1,374 608 919 393 690 1,360 270 137 370 455 367 269 11 32 15,491
9,204 9,073 7,090 4,312 4,870 5,440 4,548 4,357 1,991 1,153 2,103 1,921 1,176 941 1,018 825 92 67 60,181
11,832 11,038 9,003 6,602 6,502 6,081 5,533 4,794 2,885 2,837 2,449 2,061 1,597 1,550 1,443 1,154 110 105 77,543
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
188
Vermont Small Business Profile, 2017
VIRGINIA 706,626 99.5%
1.5 million 47.0%
Small Businesses of Virginia Businesses
DIVERSITY
EMPLOYMENT
184,956
33,908
minority-owned businesses
net new jobs
Small Business Employees of Virginia Employees
TRADE
86.1% of Virginia exporters
OVERALL V IRGINIA E CONOMY • In the second quarter of 2016, Virginia grew at an annual rate of 0.6%, which was slower than the overall US growth rate of 1.2%. Virginia’s 2015 growth rate of 2.0% was up from the 2014 rate of 0.2%. (Source: BEA) • In November 2016, the unemployment rate was 4.2%, unchanged from 4.2% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Virginia Employment by Business Size (Employees)
• Virginia small businesses employed 1.5 million people, or 47.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
3.0M
2.5M
more than 500
• During the year ending November 2016, private-sector em ployment increased 0.5%. This was below the previous year’s increase of 0.8%. (Source: CPS)
2.0M
• The number of proprietors increased in 2015 by 3.1% rela tive to the previous year. (Source: BEA)
1.5M
100 to 499 1.0M
• Small businesses created 33,908 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 8,069 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 1,055 net jobs. (Source: BDS)
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
189
Virginia Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 119,426 loans under $100,000 (valued at $1.7 billion) were issued by Virginia lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $51,611 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,275. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Virginia Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
80.1K
1.2M
Asian
58.3K
351.5K
Hawaiian/Pacific Islander
606
4.2K 445.7K
Hispanic
43.8K
Native American/Alaskan
4.4K
20.8K
Some other race
17.7K
134.1K
Nonveteran
547.7K
5.6M
Veteran
76.3K
734.2K
Minority
185.0K
2.1M
Nonminority
449.3K
4.3M
Female
236.2K
3.3M
Male
352.2K
3.1M
No. of firms relative to working population
0
5
10
15
20
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 236.2K ÷3.3M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Virginia Quarterly Startups and Exits startups
• In the second quarter of 2015, 6,673 establishments started up, generating 22,415 new jobs in Virginia. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 5,242 establishments exited resulting in 17,518 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
7K
6K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
5K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2000
SBA Office of Advocacy
2008
2016
190
Virginia Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 7,704 companies exported goods from Virginia in 2014. Among these, 6,630, or 86.1%, were small firms; they
generated 30.1% of Virginia’s $17.9 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Virginia Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
214,997 195,885 181,698 143,051 141,961 130,746 109,885 82,508 57,485 41,857 40,797 34,912 33,920 31,875 25,559 3,216 3,045 2,144 1,485,352
435,023 427,084 330,740 169,620 163,419 420,574 248,561 232,965 102,045 76,434 157,131 99,705 53,529 56,434 93,753 3,847 9,772 14,403 3,160,539
49% 46% 55% 84% 87% 31% 44% 35% 56% 55% 26% 35% 63% 56% 27% 84% 31% 15% 47%
Professional, Scientific, and Technical Services Health Care and Social Assistance Accommodation and Food Services Construction Other Services (Except Public Administration) Retail Trade Administrative, Support, and Waste Management Manufacturing Wholesale Trade Educational Services Finance and Insurance Transportation and Warehousing Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Figure 4: Virginia Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
31% to 47%
54% to 69%
47% to 54%
69% to 100%
191
Virginia Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Virginia Small Businesses by Industry and Firm Size, 2014
Industry
Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Real Estate and Rental and Leasing Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Transportation and Warehousing Arts, Entertainment, and Recreation Educational Services Accommodation and Food Services Finance and Insurance Wholesale Trade Manufacturing Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
25,184 19,621 18,672 6,287 15,032 14,124 8,622 3,825 2,589 2,637 12,328 5,200 5,086 4,187 1,757 647 66 157 146,029
22,563 18,103 17,038 5,858 13,543 11,980 7,372 3,281 2,166 2,123 9,689 4,729 4,072 3,112 1,375 616 44 104 128,222
91,085 81,863 60,559 63,577 43,214 42,254 46,681 30,574 31,269 20,133 8,103 14,614 7,110 5,912 7,998 4,991 446 214 560,597
116,269 101,484 79,231 69,864 58,246 56,378 55,303 34,399 33,858 22,770 20,431 19,814 12,196 10,099 9,755 5,638 512 371 706,626
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
192
Virginia Small Business Profile, 2017
WASHINGTON 574,455 99.5%
1.3 million 51.4%
Small Businesses of Washington Businesses
DIVERSITY
EMPLOYMENT
42,672 net new jobs
Small Business Employees of Washington Employees
TRADE
92,772
89.7%
minority-owned businesses
of Washington exporters
OVERALL WASHINGTON E CONOMY • In the second quarter of 2016, Washington grew at an annual rate of 2.3%, which was faster than the overall US growth rate of 1.2%. Washington’s 2015 growth rate of 3.0% was up from the 2014 rate of 2.8%. (Source: BEA) • In November 2016, the unemployment rate was 5.3%, down from 5.8% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Washington Employment by Business Size • Washington small businesses employed 1.3 million people, (Employees) or 51.4% of the private workforce, in 2014. (Source: SUSB) 2.5M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
2.0M
more than 500
• During the year ending November 2016, private-sector em ployment increased 4.1%. This was above the previous year’s increase of 1.6%. (Source: CPS)
1.5M
100 to 499
• The number of proprietors increased in 2015 by 3.1% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses created 42,672 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 8,330 net jobs. The smallest gains were in firms employing 250 to 499 employees, which added 2,548 net jobs. (Source: BDS)
1.0M
500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
193
Washington Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 118,364 loans under $100,000 (valued at $1.5 billion) were issued by Washington lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $49,518 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $23,478. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Washington Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
14.8K
182.3K
Asian
46.0K
394.2K
Hawaiian/Pacific Islander
1.8K
29.1K
Hispanic
24.4K
485.6K
Native American/Alaskan
7.4K
70.0K
Some other race
11.1K
177.6K
Nonveteran
460.8K
4.8M
Veteran
49.3K
594.9K
Minority
92.8K
1.3M
Nonminority
426.1K
4.0M
Female
187.6K
2.7M
Male
262.1K
2.6M
No. of firms relative to working population
0
2
4
6
8
10
12
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 7 female-owned firms per 100 working age females or 187.6K ÷2.7M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Washington Quarterly Startups and Exits startups
• In the second quarter of 2015, 4,966 establishments started up, generating 16,830 new jobs in Washington. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
8K
• In the same period, 6,747 establishments exited resulting in 16,740 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
7K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
6K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
5K
2000
SBA Office of Advocacy
2008
2016
194
Washington Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 12,656 companies exported goods from Washington in 2014. Among these, 11,352, or 89.7%, were small firms;
they generated 20.3% of Washington’s $84.1 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Washington Employment by Industry, 2014
Industry
Small Business Employment
Total Private Employment
Small Business Employment Share
185,771 169,928 127,869 124,607 118,962 109,583 95,773 76,727 68,591 39,122 34,045 34,039 33,842 32,589 24,896 11,226 1,428 1,052 1,299,824
384,476 253,614 149,268 322,099 195,908 257,814 110,459 126,931 143,193 60,456 91,175 46,666 99,671 54,666 125,983 13,097 s 2,505 2,528,874
48% 67% 86% 39% 61% 43% 87% 60% 48% 65% 37% 73% 34% 60% 20% 86% 42% 51%
Health Care and Social Assistance Accommodation and Food Services Construction Retail Trade Professional, Scientific, and Technical Services Manufacturing Other Services (Except Public Administration) Wholesale Trade Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Real Estate and Rental and Leasing Finance and Insurance Educational Services Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
Figure 4: Washington Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
46% to 62%
66% to 91%
62% to 66%
91% to 100%
195
Washington Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Washington Small Businesses by Industry and Firm Size, 2014
Industry Professional, Scientific, and Technical Services Other Services (Except Public Administration) Real Estate and Rental and Leasing Retail Trade Construction Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Educational Services Finance and Insurance Manufacturing Wholesale Trade Information Agriculture, Forestry, and Fishing and Hunting Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
18,969 15,151 7,750 14,048 20,193 16,109 7,975 2,598 4,011 12,919 2,474 4,682 6,212 6,934 1,941 1,391 172 121 143,785
17,522 14,165 7,356 12,563 18,822 14,405 7,223 2,163 3,441 10,569 2,054 4,309 4,843 5,616 1,592 1,272 152 103 128,728
80,316 51,228 53,463 38,967 30,731 32,515 28,340 28,659 21,979 5,565 15,393 11,215 8,967 7,737 7,271 7,719 360 245 430,670
99,285 66,379 61,213 53,015 50,924 48,624 36,315 31,257 25,990 18,484 17,867 15,897 15,179 14,671 9,212 9,110 532 366 574,455
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
196
Washington Small Business Profile, 2017
WEST VIRGINIA 115,673 98.9%
288,211 50.1%
Small Businesses of West Virginia Businesses
DIVERSITY
EMPLOYMENT
2,872 net jobs lost
Small Business Employees of West Virginia Employees
TRADE
5,769
76.0%
minority-owned businesses
of West Virginia exporters
OVERALL W EST V IRGINIA E CONOMY • In the second quarter of 2016, West Virginia grew at an annual rate of -0.8%, which was slower than the overall US growth rate of 1.2%. West Virginia’s 2015 growth rate of 1.4% was up from the 2014 rate of 1.0%. (Source: BEA) • In November 2016, the unemployment rate was 6.0%, down from 6.2% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: West Virginia Employment by Business Size (Employees)
• West Virginia small businesses employed 288,211 people, or 50.1% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
500K
more than 500
• During the year ending November 2016, private-sector em ployment increased 1.7%. This was above the previous year’s increase of 0.3%. (Source: CPS)
400K
300K
200K
100 to 499
• The number of proprietors increased in 2015 by 2.3% rela tive to the previous year. (Source: BEA)
20 to 99
• Small businesses lost 2,872 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 em ployees experienced the largest gains, adding 978 net jobs. The largest losses were in firms employing 1 to 4 employ ees, which lost 1,635 net jobs. (Source: BDS)
100K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
197
West Virginia Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 16,152 loans under $100,000 (valued at $254.6 million) were issued by West Virginia lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $41,821 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $19,317. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: West Virginia Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
2.3K
47.0K
Asian
2.0K
10.4K
Hawaiian/Pacific Islander
42
443
Hispanic
941
15.2K
Native American/Alaskan
646
2.7K
Some other race
284
2.7K
Nonveteran
94.7K
1.3M
Veteran
12.9K
165.0K
Minority
5.8K
94.5K
Nonminority
104.5K
1.4M
Female
39.0K
772.1K
Male
62.9K
736.4K
No. of firms relative to working population
0
5
10
15
20
25
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 5 female-owned firms per 100 working age females or 39.0K ÷772.1K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: West Virginia Quarterly Startups and Exits startups
• In the second quarter of 2015, 823 establishments started up, generating 3,400 new jobs in West Virginia. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
• In the same period, 951 establishments exited resulting in 3,372 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
1.1K 1.1K 1.0K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
950.0 900.0
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
850.0
2000
SBA Office of Advocacy
2008
2016
198
West Virginia Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 1,098 companies exported goods from West Virginia in 2014. Among these, 834, or 76.0%, were small firms; they
generated 46.1% of West Virginia’s $7.1 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: West Virginia Employment by Industry, 2014
Industry
Health Care and Social Assistance Accommodation and Food Services Retail Trade Construction Other Services (Except Public Administration) Professional, Scientific, and Technical Services Manufacturing Administrative, Support, and Waste Management Wholesale Trade Finance and Insurance Mining, Quarrying, and Oil and Gas Extraction Transportation and Warehousing Arts, Entertainment, and Recreation Educational Services Real Estate and Rental and Leasing Information Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
58,938 41,204 32,217 22,766 22,416 19,415 19,266 14,203 11,534 9,309 8,703 7,026 6,504 4,331 4,189 2,759 980 827 288,211
132,829 66,171 85,753 25,234 25,017 26,406 49,589 32,084 21,045 18,006 29,194 14,135 7,799 10,148 6,403 10,468 6,271 843 575,228
44% 62% 38% 90% 90% 74% 39% 44% 55% 52% 30% 50% 83% 43% 65% 26% 16% 98% 50%
Figure 4: West Virginia Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
199
36% to 51%
57% to 78%
51% to 57%
78% to 100%
West Virginia Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: West Virginia Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Retail Trade Construction Professional, Scientific, and Technical Services Health Care and Social Assistance Real Estate and Rental and Leasing Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Mining, Quarrying, and Oil and Gas Extraction Finance and Insurance Educational Services Wholesale Trade Manufacturing Agriculture, Forestry, and Fishing and Hunting Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
4,054 3,295 3,162 2,493 3,183 1,068 1,149 670 951 2,533 444 1,030 242 966 980 247 203 45 26,629
3,832 2,872 2,909 2,229 2,604 1,012 996 589 833 1,954 334 908 190 723 699 242 158 34 23,172
15,427 10,346 9,050 9,413 7,267 8,570 7,239 4,212 3,536 1,306 3,137 2,138 2,524 1,393 1,271 1,219 886 110 89,044
19,481 13,641 12,212 11,906 10,450 9,638 8,388 4,882 4,487 3,839 3,581 3,168 2,766 2,359 2,251 1,466 1,089 155 115,673
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
200
West Virginia Small Business Profile, 2017
WISCONSIN 445,445 99.4%
1.2 million 50.2%
Small Businesses of Wisconsin Businesses
DIVERSITY
EMPLOYMENT
40,468
30,039
minority-owned businesses
net new jobs
Small Business Employees of Wisconsin Employees
TRADE
86.8% of Wisconsin exporters
OVERALL W ISCONSIN E CONOMY • In the second quarter of 2016, Wisconsin grew at an annual rate of 1.6%, which was faster than the overall US growth rate of 1.2%. Wisconsin’s 2015 growth rate of 1.1% was down from the 2014 rate of 2.2%. (Source: BEA) • In November 2016, the unemployment rate was 4.1%, down from 4.6% at the close of 2015. This was below the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
2.5M
Figure 1: Wisconsin Employment by Business Size • Wisconsin small businesses employed 1.2 million people, (Employees) or 50.2% of the private workforce, in 2014. (Source: SUSB)
2.0M
• Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
more than 500
• During the year ending November 2016, private-sector em ployment increased 1.6%. This was above the previous year’s increase of 0.8%. (Source: CPS)
1.5M
• The number of proprietors increased in 2015 by 2.8% rela tive to the previous year. (Source: BEA)
100 to 499 1.0M
• Small businesses created 30,039 net jobs in 2014. Among the seven BDS size-classes, firms employing 250 to 499 employees experienced the largest gains, adding 8,960 net jobs. The smallest gains were in firms employing 1 to 4 employees, which added 752 net jobs. (Source: BDS)
20 to 99 500.0K
fewer than 20 0.0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
201
Wisconsin Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 declined. (Source: FDIC) • In 2014, 77,892 loans under $100,000 (valued at $996.2 million) were issued by Wisconsin lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $43,013 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $21,929. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Wisconsin Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
19.3K
250.0K
Asian
9.8K
93.6K
Hawaiian/Pacific Islander
155
1.0K
Hispanic
8.8K
212.0K
Native American/Alaskan
3.1K
36.7K
Some other race
3.2K
55.9K
Nonveteran
370.2K
4.1M
Veteran
39.8K
423.3K
Minority
40.5K
632.3K
Nonminority
379.4K
3.9M
Female
133.8K
2.3M
Male
235.7K
2.2M
No. of firms relative to working population
0
5
10
15
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 6 female-owned firms per 100 working age females or 133.8K ÷2.3M ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Wisconsin Quarterly Startups and Exits startups
• In the second quarter of 2015, 3,417 establishments started up, generating 11,484 new jobs in Wisconsin. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
3.6K
• In the same period, 3,227 establishments exited resulting in 9,911 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
3.4K 3.2K
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
3.0K 2.8K 2.6K
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
2.4K
2000
SBA Office of Advocacy
2008
2016
202
Wisconsin Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 8,857 companies exported goods from Wisconsin in 2014. Among these, 7,691, or 86.8%, were small firms; they
generated 28.5% of Wisconsin’s $21.4 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Wisconsin Employment by Industry, 2014
Industry
Manufacturing Health Care and Social Assistance Accommodation and Food Services Retail Trade Other Services (Except Public Administration) Construction Professional, Scientific, and Technical Services Wholesale Trade Administrative, Support, and Waste Management Transportation and Warehousing Finance and Insurance Arts, Entertainment, and Recreation Educational Services Real Estate and Rental and Leasing Information Agriculture, Forestry, and Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Utilities Total
Small Business Employment
Total Private Employment
Small Business Employment Share
205,806 167,498 159,270 125,095 95,205 79,557 73,849 73,766 60,710 43,485 43,444 31,331 23,380 20,067 14,040 2,490 2,013 1,069 1,230,352
443,111 388,018 228,764 305,703 104,774 98,502 102,960 115,059 151,613 98,342 136,126 42,813 56,014 23,799 54,672 3,001 2,996 14,369 2,450,254
46% 43% 70% 41% 91% 81% 72% 64% 40% 44% 32% 73% 42% 84% 26% 83% 67% 7% 50%
Figure 4: Wisconsin Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
203
43% to 52%
62% to 77%
52% to 62%
77% to 100%
Wisconsin Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Wisconsin Small Businesses by Industry and Firm Size, 2014
Industry Other Services (Except Public Administration) Professional, Scientific, and Technical Services Construction Retail Trade Real Estate and Rental and Leasing Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Finance and Insurance Manufacturing Wholesale Trade Educational Services Agriculture, Forestry, and Fishing and Hunting Information Utilities Mining, Quarrying, and Oil and Gas Extraction Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
13,430 10,277 13,139 11,762 3,647 9,705 5,484 2,490 4,391 11,502 4,383 7,351 5,132 1,433 513 927 52 131 105,482
12,428 9,357 12,340 10,255 3,399 7,978 4,849 2,122 3,782 9,133 3,865 4,896 3,941 1,093 490 719 22 102 91,040
50,966 43,644 38,544 38,748 39,534 22,907 20,633 19,990 14,169 5,874 11,364 7,160 6,589 8,952 6,434 4,109 215 131 339,963
64,396 53,921 51,683 50,510 43,181 32,612 26,117 22,480 18,560 17,376 15,747 14,511 11,721 10,385 6,947 5,036 267 262 445,445
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
204
Wisconsin Small Business Profile, 2017
WYOMING 64,653 98.8%
136,377 62.0%
Small Businesses of Wyoming Businesses
DIVERSITY
EMPLOYMENT
4,075
5,341
minority-owned businesses
net new jobs
Small Business Employees of Wyoming Employees
TRADE
73.6% of Wyoming exporters
OVERALL W YOMING E CONOMY • In the second quarter of 2016, Wyoming grew at an annual rate of -5.3%, which was slower than the overall US growth rate of 1.2%. Wyoming’s 2015 growth rate of -0.1% was down from the 2014 rate of 1.7%. (Source: BEA) • In November 2016, the unemployment rate was 4.9%, up from 4.4% at the close of 2015. This was above the November 2016 national unemployment rate of 4.6%. (Source: CPS) E MPLOYMENT
Figure 1: Wyoming Employment by Business Size (Employees)
• Wyoming small businesses employed 136,377 people, or 62.0% of the private workforce, in 2014. (Source: SUSB) • Firms with fewer than 100 employees have the largest share of small business employment. See Figure 1 for further details on firms with employees. (Source: SUSB)
200K
more than 500
100 to 499
• During the year ending November 2016, private-sector em ployment decreased 1.3%. This was below the previous year’s decrease of 1.1%. (Source: CPS)
20 to 99
• The number of proprietors increased in 2015 by 2.2% rela tive to the previous year. (Source: BEA)
150K
100K
• Small businesses created 5,341 net jobs in 2014. Among the seven BDS size-classes, firms employing 20 to 49 em ployees experienced the largest gains, adding 1,692 net jobs. The smallest gains were in firms employing 50 to 99 employees, which added 273 net jobs. (Source: BDS)
50K
fewer than 20 0
1998
2006
2014
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small businesses are defined as firms employing fewer than 500 employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2014 Business Dynamics Statistics (BDS), 2012 Survey of Business Owners (SBO), and 2014 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy
205
Wyoming Small Business Profile, 2017
I NCOME AND F INANCE • The number of banks reported in the Call Reports between June 2015 and June 2016 was unchanged. (Source: FDIC) • In 2014, 11,434 loans under $100,000 (valued at $179.2 million) were issued by Wyoming lending institutions reporting under the Community Reinvestment Act. (Source: FFIEC) • The median income for individuals self-employed at their own incorporated businesses was $49,215 in 2015. For individuals self-employed at their own unincorporated firms, this figure was $22,082. (Source: ACS) Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of the unincorporated self-employed.
B USINESS OWNER D EMOGRAPHICS Figure 2: Wyoming Small Business Ownership, 2012 Demographic group
Firms
Pop.
African American
350
3.7K
Asian
801
3.6K
Hawaiian/Pacific Islander
85
178
Hispanic
2.5K
34.0K
Native American/Alaskan
719
8.8K
Some other race
573
8.9K
Nonveteran
51.2K
391.0K
Veteran
6.5K
51.2K
Minority
4.1K
55.0K
Nonminority
55.3K
387.2K
Female
19.3K
217.8K
Male
29.9K
224.4K
No. of firms relative to working population
0
10
20
30
40
Figure 2 displays the number of small firms (SBO) per 100 people 16 years and over (ACS). For example, there are approximately 9 female-owned firms per 100 working age females or 19.3K ÷217.8K ×100. ACS and SBO differ in their classifications of individuals reporting more than one race. ACS provides a distinct category for two or more races while SBO tabulates these businesses into more than one group.
B USINESS T URNOVER
Figure 3: Wyoming Quarterly Startups and Exits startups
• In the second quarter of 2015, 584 establishments started up, generating 1,681 new jobs in Wyoming. Startups are counted when business establishments hire at least one employee for the first time. (Source: BDM)
exits
650
• In the same period, 663 establishments exited resulting in 1,885 jobs lost. Exits occur when establishments go from having at least one employee to having none, and then remain closed for at least one year. (Source: BDM)
600
• Figure 3 displays quarterly startups and exits from 2000 to 2016. Each series is smoothed across multiple quarters to highlight long-run trends.
550
The BLS refers to startups as births and exits as deaths. These terms are distinct from the BLS openings and closings categories. Openings include seasonal re-openings and closings include seasonal shutterings.
500
2000
SBA Office of Advocacy
2008
2016
206
Wyoming Small Business Profile, 2017
I NTERNATIONAL T RADE • A total of 489 companies exported goods from Wyoming in 2014. Among these, 360, or 73.6%, were small firms; they
generated 50.2% of Wyoming’s $1.7 billion in total known exports. (Source: ITA)
S MALL B USINESS E MPLOYMENT BY I NDUSTRY AND C OUNTY Table 1: Wyoming Employment by Industry, 2014
Industry
Accommodation and Food Services Health Care and Social Assistance Construction Retail Trade Professional, Scientific, and Technical Services Other Services (Except Public Administration) Mining, Quarrying, and Oil and Gas Extraction Transportation and Warehousing Manufacturing Wholesale Trade Administrative, Support, and Waste Management Finance and Insurance Real Estate and Rental and Leasing Arts, Entertainment, and Recreation Information Educational Services Utilities Agriculture, Forestry, and Fishing and Hunting Total
Small Business Employment
Total Private Employment
Small Business Employment Share
23,594 20,848 16,327 14,993 8,969 7,845 7,284 5,521 5,290 5,016 4,833 4,284 3,379 2,570 2,458 1,880 552 215 136,377
28,926 31,867 19,966 31,749 10,164 8,400 26,281 10,978 10,051 8,676 6,696 6,670 5,060 4,068 4,165 2,137 s 233 219,857
82% 65% 82% 47% 88% 93% 28% 50% 53% 58% 72% 64% 67% 63% 59% 88% 92% 62%
Figure 4: Wyoming Small Business Percent of Employment by County
Small Business Employment
SBA Office of Advocacy
207
49% to 69%
75% to 91%
69% to 75%
91% to 100%
Wyoming Small Business Profile, 2017
S MALL B USINESSES BY I NDUSTRY Table 2: Wyoming Small Businesses by Industry and Firm Size, 2014
Industry Real Estate and Rental and Leasing Professional, Scientific, and Technical Services Other Services (Except Public Administration) Construction Retail Trade Health Care and Social Assistance Administrative, Support, and Waste Management Arts, Entertainment, and Recreation Transportation and Warehousing Accommodation and Food Services Mining, Quarrying, and Oil and Gas Extraction Finance and Insurance Manufacturing Agriculture, Forestry, and Fishing and Hunting Educational Services Wholesale Trade Information Utilities Total
1-499 Employees
1-20 Employees
Nonemployer Firms
Total Small Firms
972 2,094 1,704 2,563 1,807 1,650 885 423 763 1,529 622 583 488 86 168 515 190 34 17,077
927 1,978 1,635 2,383 1,591 1,447 832 390 682 1,200 511 519 415 85 148 377 146 22 15,342
7,387 5,984 6,151 4,671 4,466 3,246 3,267 2,646 1,633 688 1,428 1,316 964 1,276 1,082 701 605 65 47,576
8,359 8,078 7,855 7,234 6,273 4,896 4,152 3,069 2,396 2,217 2,050 1,899 1,452 1,362 1,250 1,216 795 99 64,653
Data for counties shown in white in Figure 4 and values labeled "s" in Tables 1 and 2 were withheld by the Census Bureau because they do not meet publication standards or could disclose information regarding individual businesses. (Source: SUSB, NES)
R EFERENCES The Small Business Profiles, source data, and methodology are available at http://go.usa.gov/cfKMd.
ACS BEA BDM BDS BLS CES CEW CPS FDIC FFIEC ITA NES SBO SUSB
SBA Office of Advocacy
American Community Survey, 5-year estimates, U.S. Census Bureau Bureau of Economic Analysis Business Employment Dynamics, BLS Business Dynamics Statistics, U.S. Census Bureau Bureau of Labor Statistics, U.S. Department of Labor Current Employment Statistics, BLS Census of Employment and Wages, BLS Current Population Survey, BLS Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council International Trade Administration Nonemployer Statistics, U.S. Census Bureau Survey of Business Owners, U.S. Census Bureau Statistics of U.S. Businesses, U.S. Census Bureau
208
Wyoming Small Business Profile, 2017