Massachusetts Small Businesses: Five Fast Facts

April 11, 2024

Delaney Sexton
Contributing Editor

Massachusetts Small Businesses: Five Fast Facts

697,585 small businesses employed 1.5 million people in Massachusetts.
36,985 small businesses opened between March 2021 and March 2022.
In 2021, banks issued $2.1 billion in loans to Massachusetts businesses with revenues of $1 million or less.
Total reported new lending to businesses through loans of $100,000 or less was $3 billion.
Exports by small businesses in Massachusetts reached $9.1 billion, making up 29.6% of exports.