North Carolina Small Businesses: Five Fast Facts

May 2, 2024

Delaney Sexton
Contributing Editor

North Carolina Small Businesses: Five Fast Facts

North Carolina has 1 million small businesses.
In 2021, total reported new lending to businesses through loans of $1 million or less was $11 billion.
Banks issued $3.9 billion in loans to businesses with revenues of $1 million or less.
Exports by North Carolina small businesses reached $7.1 billion in 2021.
Small business employment grew by 21.8% between 1996 and 2020, which exceeded the national small business employment growth rate.