SBA Number: 24-03-ADV
WASHINGTON, D.C.- The Office of Advocacy, an independent office housed in the U.S. Small Business Administration, today released the 2024 Small Business Profiles for Metropolitan Statistical Areas. Each year, Advocacy’s Office of Economic Research assembles the most recent small business data into a comprehensive snapshot of the American economy.
Each profile shows the total number of small businesses in the metropolitan area and the share of metropolitan area employment at small businesses. The New York-Newark-Jersey City metropolitan area had the most small businesses, at 2.5 million, followed by Los Angeles-Long Beach-Anaheim and Miami-Fort Lauderdale-West Palm Beach.
Small businesses generally play a less prominent role in larger cities, but Miami-Fort Lauderdale-West Palm Beach is an exception, with small businesses accounting for 54.3 percent of employment. Billings led all profiled metropolitan areas in small business employment share, at 60.0 percent, followed by North Port-Sarasota-Bradenton and Burlington-South Burlington.
“Advocacy’s Small Business Profiles provide critical snapshots of the American small business economy,” said Deputy Chief Counsel Major Clark III. “These profiles examine the small business economy at the metropolitan level, showing demographic shares, industry-specific data, and lending trends.”
The 2024 Metropolitan Area Profiles are part of Advocacy’s larger geographic profile series, which highlights the features of small business economies for policymakers and other stakeholders at the national, state, and local levels. To view the Small Business Profiles for various geographical regions, please visit the Office of Advocacy’s website.
Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration is an independent voice for small business within the federal government. Appointed by the President and confirmed by the U.S. Senate, the Chief Counsel for Advocacy directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policymakers. Economic research, policy analyses, and small business outreach help identify issues of concern. Regional Advocates and an office in Washington, DC, support the Chief Counsel’s efforts. For more information on the Office of Advocacy, visit https://advocacy.sba.gov/, or call (202) 205-6533.