September 23, 2019
By Mary Miller
Contributing Editor, Main Street Monday
Main Street Monday – Kabbage Small Business Revenue Index Predicts Double-Digit Revenue Gains
According to the Kabbage Small Business Revenue Index, U.S. small businesses grew by 19.2% between January 2018 and January 2019. From Q1 2019 to Q2 2019 alone, the revenue growth rate was 7.6%.
The Kabbage Small Business Revenue Index collects information from over 200,000 small businesses and over 2 million live data connections. The Index keeps continuous track of revenue performance of small businesses across the U.S. and provides users with data that can be organized based on a date, industry or state.
Breaking it down by industry, transportation and warehousing experienced the largest revenue growth since January 2017 at 71.9%. The construction industry is right behind, with a revenue growth of 71.8% during the same time period.
According to the Kabbage Small Business Revenue Index, Vermont is the state that experienced the most impressive revenue growth since January 2017, with a growth rate of 118.2%.
The Kabbage Small Business Revenue Index is unique because it offers the public with free insight into financial trends.
“The impact small businesses have on the economy is significant,” says Jackson Mueller, Associate Director at the Center of Financial Markets at the Milken Institute. “Too often small businesses can be over-generalized in local and national political debates and the Kabbage Index provides an empirical analysis which can be a foundation to frame policy discussions aimed to support local business across states and industries,”