South Dakota Small Businesses: Five Fast Facts

May 16, 2024

Delaney Sexton
Contributing Editor

South Dakota Small Businesses: Five Fast Facts

In 2021, banks issued $586.8 million in loans to businesses with revenues of $1 million or less.
New lending to businesses through loans of $1 million or less was $1.3 billion.
Between March 2021 and March 2022, 4,082 small businesses opened.
Small businesses added 10,787 new jobs during that same period.
In South Dakota, retail trade is one of the three largest industries unlike in other states.