How Is Your State’s Small Business Economy Faring?
By Pat Delehanty, Acting Director of Economic Research
The Office of Advocacy’s new publication, “State Rankings by Small Business Economic Indicators,” provides comparative data on the 50 states and the District of Columbia. The short version shows the top 10 states in 20 categories, and an Excel spreadsheet lists data for all the states. The rankings use the data published in Advocacy’s 2018 edition of the “Small Business Profiles for the States and Territories.”
Small business stakeholders can use the tables to see which states rank high in various small business statistics, and compare one state with others. The categories show raw numbers (how many small businesses and new establishments); big picture growth rates (state GDP and unemployment); and percent shares that show the importance of small businesses within a state. Interestingly, the relatively rural states of Montana, Wyoming, and Vermont have the highest percentage of employment from small businesses, and the larger states of California, Florida, and New York have the highest share of businesses that are small. To learn more, check out “State Rankings by Small Business Economic Indicators.”