West Virginia Small Businesses: Five Fast Facts

May 30, 2024

Delaney Sexton
Contributing Editor

West Virginia Small Businesses: Five Fast Facts

In 2021, banks issued $396 million in loans to businesses with revenues of $1 million or less.
Total new lending to businesses through loans of $1 million or less was $1.2 billion.
77.8% of all West Virginia exporters were small businesses.
West Virginia small businesses added 18,454 new jobs between March 2021 and March 2022.
Small businesses accounted for 48.5% of West Virginia employment in 2020, which exceeded the national small business employment share.