Report: State’s small businesses employ nearly half of all workers
by MBJ Staff
Published: June 19,2014
ACROSS MISSISSIPPI — The Office of Advocacy, an independent office within the Small Business Administration, has released a report titled Small Business Profiles for the States and Territories, an annual analysis of each state’s small business activities.
The profile includes information on the number of firms, employment, demographics and other topics using the most recently available government data.
“Mississippi’s small businesses contribute so much to the state’s economy,” said Dr. Winslow Sargeant, chief counsel for Advocacy. “Representing 48.6 percent of the state’s private workforce, no one can doubt the significant role small businesses play in our economic landscape.
Some highlights of the profile include:
- Mississippi is home to 241,481 small businesses.
- Mississippi’s small businesses employ 431,798 individuals.
- The three industries with the most small business employment are health care & social assistance, retail trade, and accommodation & food services.
- Small businesses made up 75.6 percent of Mississippi’s exporting companies generating 16.4 percent of the state’s total known export value.
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