New study ranks Florida with highest percentage of small businesses

In other news – New research shows Florida has the highest percentage of small businesses in the U.S., ranking GA 16th.

release:

• Florida has the highest percentage of small businesses, with 64% of all businesses having fewer than five registered employees.
• New York state came in second with 62.71%, and Wyoming came in third with 61.83%.
• Tennessee had the lowest percentage of small businesses at 49.19%.

A new study reveals that Florida has the highest percentage of small businesses of all U.S. states.

Business QR Code Generator Qrfy.com analyzed the latest publicly available data from the U.S. Census Bureau to determine the percentage of registered businesses with fewer than five employees in each U.S. state throughout 2021. These results were then ranked to determine which states had the highest number of employees. Small businesses compared to all other registered businesses.

florida 64% of all companies are classified as small and medium-sized enterprises, ranking first. Of the 616,961 total registered establishments, there were 394,849 establishments with fewer than five employees. The annual salary for all small businesses in Florida is found to be $32,799,642,000, with an average of $83,068.82 per company.

new york In second place, 62.71% of all companies are classified as small and medium-sized enterprises. Of the total number of registered establishments of 535,758, there were 335,950 establishments with fewer than five employees. Annual salaries for small businesses across New York were $33,618,837,000, with an average of $100,070.95 per small business.

wyoming In third place, 61.83% of all companies are classified as small and medium-sized enterprises. Out of a total of 22,474 registered establishments, there were 13,896 establishments with fewer than five employees. Annual payroll for small businesses across Wyoming was $1,286,032,000, with an average of $92,546.91 per small business.

montana 61.54% of all companies were classified as small and medium-sized enterprises, ranking fourth. Out of a total of 40,716 registered establishments, there were 25,055 establishments with fewer than five employees. The annual salary for all small businesses in Montana was $1,935,268,000, with an average of $77,240.79 per small business.

colorado In fifth place, 60.93% of all companies are classified as small and medium-sized enterprises. Of the 179,827 total registered establishments, there were 109,570 establishments with fewer than five employees. The annual salary for all small businesses across Colorado was $10,665,582,000, with an average of $97,340.34 per small business.

Other states in the top 10 include Utah, California, Idaho, Maine, and Alaska.

tennessee It ranks last in this study, with only 49.19% of all companies having fewer than five registered employees. Of the total number of registered establishments of 144,457, there were 71,055 establishments with fewer than five employees.

Mark Porker CEO Qrfy.com He commented on the survey results as follows:

“It is interesting to see how much small businesses contribute to the total number of businesses in each state, especially when they are competing with much larger businesses in the same industry. These numbers also reflect COVID-19 infections. This comes after the end of the COVID-19 lockdown period, which may have influenced people to set up small businesses while working from home.

“A possible explanation behind the top 10 results could be that states like Florida and New York have a higher cost of living, encouraging people to become more entrepreneurial in order to make a living. We hope to see more official statistics released in the coming years to see if these trends really continue.”

States ranked by percentage of small businesses (less than 5 employees) in 2021