When you think of American companies, Amazon, Apple or Google likely come to mind. But the vast majority of the companies in America are small businesses.
The U.S. Small Business Administration defines a small business as having fewer than 500 employees. Small companies make up 99.9% of all U.S. businesses, and there are more than 30 million of them across the country. They employ almost half of all U.S. employees.
The biggest industries that employ small business workers are health care, food services and retail. They are also some of the industries expected to best survive the next recession.
We combed through 2018 SBA data to learn which states were the best for small businesses. We looked at how many jobs small businesses created in 2018, the total number of small businesses and the percent of employment from small businesses in each state. Here are the states that created the most small businesses last year.
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10. Colorado
- Number of new small businesses: 5,898
- Number of new jobs created: 17,847
- Total number of small businesses: 611,495
- Percent of employment from small businesses: 48.6%
Image Credit: Onfokus.
9. New Jersey
- Number of new small businesses: 6,199
- Number of new jobs created: 25,490
- Total number of small businesses: 861,373
- Percent of employment from small businesses: 49.8%
Image Credit: DepositPhotos.com.
8. North Carolina
- Number of new small businesses: 6,878
- Number of new jobs created: 25,006
- Total number of small businesses: 890,398
- Percent of employment from small businesses: 44.3%
Image Credit: Cvandyke/shutterstock.
7. Pennsylvania
- Number of new small businesses: 7,298
- Number of new jobs created: 25,858
- Total number of small businesses: 1,037,737
- Percent of employment from small businesses: 46.7%
Image Credit: halfofmoon/shutterstock.
6. Illinois
- Number of new small businesses: 7,597
- Number of new jobs created: 31,194
- Total number of small businesses: 1,219,654
- Percent of employment from small businesses: 45.5%
Image Credit: adamgrandprix / iStock.
5. Georgia
- Number of new small businesses: 7,830
- Number of new jobs created: 34,863
- Total number of small businesses: 1,041,515
- 8Percent of employment from small businesses: 43.2%
Image Credit: DepositPhotos.com.
4. New York
- Number of new small businesses: 14,417
- Number of new jobs created: 50,848
- Total number of small businesses: 2,143,667
- Percent of employment from small businesses: 50.2%
Image Credit: FilippoBacci/istockphoto.
3. Texas
- Number of new small businesses: 18,499
- Number of new jobs created: 80,792
- Total number of small businesses: 2,627,724
- Percent of employment from small businesses: 45.6%
Image Credit: DepositPhotos.com.
2. Florida
- Number of new small businesses: 20,880
- Number of new jobs created: 88,109
- Total number of small businesses: 2,471,260
- Percent of employment from small businesses: 42.2%
Image Credit: DepositPhotos.com.
1. California
Number of new small businesses: 47,250
Number of new jobs created: 135,472
Total number of small businesses: 3,941,201
Percent of employment from small businesses: 48.8%
If you are a small business owner, it’s important to make sure you are getting all the financial protection you need for yourself and your employees. Here’s a guide to getting life insurance as a business owner.
This article originally appeared on Policygenius and was syndicated by Mediafeed.org.
Image Credit: Quintin Gellar.
