small businesses are an important engine of the US economy. According to the Small Business Administration (SBA) there are over 28 million small businesses in the US, employing over 56 million workers. Of course, the number and health of small business varies by state. How the growth of small businesses in your state stack up?
The annual report SBA Report provides an overview of the growth of small businesses at the state level . The new report provides an overview of the activity of small businesses in every state, including information on the number of enterprises, employment, demographics, and other small business growth information.
To help understand the growth of small businesses by the state, look at a few different top 10 lists
Top 10 -. The higher number of small businesses
The report SBA, these ten states have the largest number of small businesses in the US
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California 3622304
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Texas 2412717
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Florida 2180556
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New York 2057959
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Illinois 1169961
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Pennsylvania 999 591
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Georgia 962 085
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Ohio 926 977
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Michigan 856 682
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North Carolina 833 107
Top 10 -. Share of small business employment
The report SBA, these ten states have the largest share of employment in small enterprises
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Montana 67.6%
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Wyoming 62.3%
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South Dakota 59.2%
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Vermont 58.9%
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North Dakota 58.6%
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Maine 57.3%
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Idaho 56.3%
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Oregon 55.5%
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Rhode Island 55.0%
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New Mexico 54.6%
Top 10 - Surviving small business 2013-2014
If you are in one of these ten states, your company had a higher survival rate from 2013 to 2014.
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Washington 87.4%
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Delaware 84.7%
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Wisconsin 83.1%
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Connecticut 82.1%
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Utah 81.8%
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SC to 81.5% (tie)
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Massachusetts 81.5% (tie)
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New York 80.7%
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Texas 80.6% (tie)
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South Dakota 80.6 (tie)
Top 10 - Private sector employment growth
These states represent the highest percentage the growth of the private sector from 2013 2014.
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North Dakota 5.8%
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Texas 4.2%
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Utah 3.7%
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Delaware 3.2%
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Florida 3.1% (tie)
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Nevada 3.1% (tie)
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North Carolina 3.0% (tie)
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Arizona 3.0% (tie)
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Georgia 2.9%
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Tennessee 2.8%
Top 10 - Number of Firms Open
According to SBA, these ten states had the largest number of new companies opening in the first quarter of 2014.
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California 62938
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Florida 31578
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New York 25698
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Texas 25324
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Illinois 17196
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Georgia 130
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Pennsylvania 12975
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Michigan 11150
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Massachusetts 10627
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North Carolina 10286
See related: How to start Fearlessly your first business
Conclusion
small business success and growth depends on many factors - with the location being one of them. These ten lists give an overview of the growth of the company by the State.
How small businesses grow your state stack?
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