The Office of Advocacy’s Small Business Profiles are an annual portrait of each state’s small business. They gather the latest federal data into state-by-state snapshots of small business health and economic activity. Limited economic data is also provided for the U.S. territories. This year’s profiles report on state economic growth and employment, income and finance, employer business owner demographics, turnover among establishments with employees, international trade, small business employment by industry and county, and self-employment by county, and small businesses by industry.

In 2021, about **** million small business firms with employees were counted in the United States. That same year, there were around ** million non-employer small businesses.

The Office of Advocacy’s Small Business Profiles are an annual analysis of each state’s small business activities. Each profile gathers the latest information from key federal data-gathering agencies to provide a snapshot of small business health and economic activity. This year’s profiles report on state economic growth and employment; small business employment, industry composition, and turnover; plus business owner demographics and county-level employment change.

Graph and download economic data for Business Applications: Total for All NAICS in the United States (BABATOTALSAUS) from Jul 2004 to Jun 2025 about business applications, business, and USA.

These small business statistics will tell you everything you need to know about the growth of business and where it’s going in the future.

U.S. Small Business Loan Market size was valued at USD 30,833.44 Million in 2023 and is projected to reach USD 56,135.67 Million by 2031, growing at a CAGR of 8.94% during the forecast period 2024-2031.The U.S. Small Business Loan Executive SummaryA small business loan is a form of financing offered to small businesses by banks, credit unions, or alternative lenders for a variety of uses, including beginning a new business, growing an existing one, buying inventory or equipment, paying for operating costs, or fulfilling other financial requirements. These loans often have terms and circumstances that are different from those of loans provided to larger firms, and they are designed specifically to meet the needs of small enterprises. There are several methods to organize small business loans: SBA (Small Business Administration) loans, invoice financing, term loans, credit lines, equipment financing, and more. The borrower's creditworthiness, the lender's policies, and the loan's intended use are some of the variables that affect the conditions of the loan, including interest rates, payback schedules, and collateral requirements. These loans are essential in helping small business owners and entrepreneurs launch, grow, and maintain their enterprises, which promotes economic growth and employment generation. But getting a small company loan frequently calls for thorough preparation, supporting documentation, and a strong business plan that demonstrates the borrower's capacity to pay back the loan.The growing need for U.S. Small Business Loan Market is driven by several factors, including the increasing number of start-ups and small businesses, availability of a variety of loan options tailored to meet the unique needs of small businesses, technological advancements in financial services, and changing consumer behavior. The United States has a supportive ecosystem for small businesses, with resources such as business incubators, accelerators, mentorship programs, and networking opportunities. These resources provide guidance, funding, and support services to aspiring entrepreneurs, helping them navigate the complexities of starting and growing a business. Thus, the number of small businesses is continuously growing in the United States. However, high interest rates act as a significant constraint on the growth of U.S. Small Business Loan Market. Businesses can be discouraged from taking out loans, leading to reduced borrowing activity and slower market growth.

According to a new study, women started 49% of new businesses in the United States in 2021. This is way up from 28% in 2019.

In August 2024, a net ** percent of surveyed small business owners in the United States had plans to increase employment in the coming three months. Additionally, around ** percent of said that they had current job openings.

The number of small and medium-sized enterprises in the United States was forecast to continuously decrease between 2024 and 2029 by in total 6.7 thousand enterprises (-2.24 percent). After the fourteenth consecutive decreasing year, the number is estimated to reach 291.94 thousand enterprises and therefore a new minimum in 2029. According to the OECD an enterprise is defined as the smallest combination of legal units, which is an organisational unit producing services or goods, that benefits from a degree of autonomy with regards to the allocation of resources and decision making. Shown here are small and medium-sized enterprises, which are defined as companies with 1-249 employees.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).

The following small business statistics broken down by industry to help you understand the small business landscape better.

About 1.5 million jobs are created in the US every year by small businesses alone. This means that 64% of all job creation comes from small businesses.

United States SBOI: sa: Outlook for Expansion data was reported at 30.000 % in Oct 2018. This records a decrease from the previous number of 33.000 % for Sep 2018. United States SBOI: sa: Outlook for Expansion data is updated monthly, averaging 15.000 % from Jan 1975 (Median) to Oct 2018, with 438 observations. The data reached an all-time high of 34.000 % in Aug 2018 and a record low of 0.000 % in Apr 1980. United States SBOI: sa: Outlook for Expansion data remains active status in CEIC and is reported by National Federation of Independent Business. The data is categorized under Global Database’s USA – Table US.S017: NFIB Index of Small Business Optimism.

United States SBOI: sa: OE: Not Good Time Due To: Cost of Expansion data was reported at 5.000 % in Mar 2025. This stayed constant from the previous number of 5.000 % for Feb 2025. United States SBOI: sa: OE: Not Good Time Due To: Cost of Expansion data is updated monthly, averaging 4.000 % from Jan 2014 (Median) to Mar 2025, with 131 observations. The data reached an all-time high of 7.000 % in Apr 2024 and a record low of 1.000 % in Sep 2020. United States SBOI: sa: OE: Not Good Time Due To: Cost of Expansion data remains active status in CEIC and is reported by National Federation of Independent Business. The data is categorized under Global Database’s United States – Table US.S042: NFIB Index of Small Business Optimism. [COVID-19-IMPACT]

NFIB Business Optimism Index in the United States decreased to 98.60 points in June from 98.80 points in May of 2025. This dataset provides - United States Nfib Business Optimism Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States SBOI: sa: OE: Good Time Due To: Cost of Expansion data was reported at 0.000 % in Mar 2025. This stayed constant from the previous number of 0.000 % for Feb 2025. United States SBOI: sa: OE: Good Time Due To: Cost of Expansion data is updated monthly, averaging 0.000 % from Jan 2014 (Median) to Mar 2025, with 131 observations. The data reached an all-time high of 1.000 % in Mar 2024 and a record low of 0.000 % in Mar 2025. United States SBOI: sa: OE: Good Time Due To: Cost of Expansion data remains active status in CEIC and is reported by National Federation of Independent Business. The data is categorized under Global Database’s United States – Table US.S042: NFIB Index of Small Business Optimism. [COVID-19-IMPACT]

During a April 2022 survey, 21.6 percent of surveyed small businesses in the United States claimed that the COVID-19 pandemic had a large negative effect on business. In comparison, only 1.7 percent of respondents said that the pandemic had a large positive effect on their business.

Context

The dataset is from the U.S. Small Business Administration (SBA)

The U.S. SBA was founded in 1953 on the principle of promoting and assisting small enterprises in the U.S. credit market (SBA Overview and History, US Small Business Administration (2015)). Small businesses have been a primary source of job creation in the United States; therefore, fostering small business formation and growth has social benefits by creating job opportunities and reducing unemployment.

There have been many success stories of start-ups receiving SBA loan guarantees such as FedEx and Apple Computer. However, there have also been stories of small businesses and/or start-ups that have defaulted on their SBA-guaranteed loans.

Content

Shape of the data: 899164 rows and 27 columns

Data Dictionary

Description of the first two digits of NAICS.

Acknowledgements

Original data set id from “Should This Loan be Approved or Denied?”: A Large Dataset with Class Assignment Guidelines. by: Min Li, Amy Mickel & Stanley Taylor

To link to this article: https://doi.org/10.1080/10691898.2018.1434342

Inspiration

Good luck with predictions!

One of the cool things about most small business owners is that they come from all different demographics and backgrounds.

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During a 2022 survey, roughly ********* (or **** percent) of responding small and medium-sized businesses (SMBs) from the United States reported that their business had grown ** percent or more in the two years leading up to the survey because of digital advertising.