United States Small Business Profiles - Small Business Administration

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Each report incorporates the most up-to-date government data to present a unique snapshot of small businesses. Small bus
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