CATEGORIES

Categorized | Breaking News

SBA Office of Advocacy releases small business profiles for all 50 states

The Office of Advocacy released the annual Small Business Profiles for the States and Territories. This is the 16th year Advocacy has published a state-by-state profile of American small business for all 50 states, the District of Columbia, and U.S. territories.

The profiles are an invaluable resource for small businesses, legislators, academics, government officials, and policymakers in each state. The Florida profile uses the most recent data available to provide details about the state’s small business employment; business starts and closings; bank lending; business ownership by minorities, women, and veterans; and firm and employment change by major industry and firm size.

Here are some highlights from Florida’s small business profile:

• There were 2 million small businesses in Florida in 2009. Of these, 395,462 were employers and they accounted for 42.3 of private sector jobs in the state. Small firms made up 98.9% of the state’s employers.

• Throughout 2010, the number of opening establishments was lower than closing establishments and the net employment change from this turnover was negative.

• Florida’s real gross state product decreased 1.7% and private-sector employment decreased 1.3% in 2010. By comparison, real GDP in the United States decreased 1.3% and private sector employment declined by 0.8%.

• Self-employment in Florida increased over the last decade. Minority self-employment fared the best compared with other demographic groups during the decade.

State profiles from previous years are available at http://archive.sba.gov/advo/research/profiles; these provide a historical perspective of each state economy.

Click here for a complete copy of the current state and territory small business profiles. For more information, visit www.sba.gov/advocacy or call 202-205-6533.


Leave a Reply