What's your state's small-business profile?
Pennsylvania is home to 1 million small businesses employing 2.4 million people, while New Jersey boasts 820,303 small companies with 1.7 million employees, according to the Small Business Administration's annual state-by-state profiles released Thursday.
Pennsylvania is home to 1 million small businesses employing 2.4 million people, while New Jersey boasts 820,303 small companies with 1.7 million employees, according to the Small Business Administration's annual state-by-state profiles released Thursday.
In both states, SBA profiles showed, small business represents a little more than 98 percent of all businesses and at or close to 50 percent of all employees.
In Pennsylvania, the industries with the most small-business jobs were health care and social assistance, accommodation and food services, and manufacturing, according to the report, compiled by the Office of Advocacy, an independent unit within the SBA.
In New Jersey, they were professional, scientific and technical services, "other services," and retail trade.
Other notable findings:
The number of minority-owned businesses increased by 36.7 percent in Pennsylvania and by 30 percent in New Jersey between 2007 and 2012.
Small businesses make up 89.1 percent of Pennsylvania's exporting companies and 92.1 percent of New Jersey's.
For more information, go to https://www.sba.gov/advocacy/small-business-profiles-states-and-territories-2016.
215-854-2466 @dmastrull