Main Street Wednesday – What are your State’s Small Business Stats?

July 23, 2014

By Bob Coleman
Editor, Coleman Report

crpmgraph072314-2I love small business stats, and SBA’s Office of Advocacy delivers with its just released 2013 Small Business Profiles for States (and US territories!)

Download and read at your leisure. There’s a ton of good stuff here.

This year’s profiles feature a new and expanded format. They provide information on small business employment, industry composition, small business borrowing, exporting, and survival rates, as well as business owner demographics.

Did you know?

North Dakota and South Dakota top the list of states with the highest number of new small businesses surviving from 2007 to 2012 at 56.2% and 55%.

New Jersey and North Carolina are the two states with the highest reduction in unemployment from 2012 to 2013 at 2.3% (National average is1.2%)

U.S. is home to 28 million small businesses.

Small businesses represent 99.7% of all businesses with employees and employ 55 million people.

Most small businesses are sole proprietorships. Their income increased 7.1% in the third quarter of 2013 to $1.2 trillion.

Check out your state’s stats here.