New Florida SBDC Report: State of Florida’s Small Businesses

“Small Business and Its Impact on Florida” Provides Index on Current, Future Business Data

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FSBDCN State Office: (September 29, 2015) – The Florida SBDC Network, the state’s principal provider of business assistance and thought leader for small business, is pleased to announce the release of its inaugural State of Small Business Report: Small Business and Its Impact on Florida. A collaborative effort with the University of West Florida’s Center for Research and Economic Opportunity, the report provides an overview of the size, scope, and well-being of Florida’s small businesses.

Florida is home to nearly 2.2 million small businesses, of which employ 4.8 million or 56 percent of the state’s private-sector workforce. One out of every three working Floridians is employed by a small business with less than 50 employees and, since December 2010, Florida’s small businesses have contributed to over 70 percent of the nearly one million private-sector jobs, helping drive down one of the nation’s highest unemployment rates.

“Small businesses are critical to our economy,” said Michael Myhre, CEO and Network State Director for the Florida SBDC. “To illustrate the vital role small businesses play and to encourage future policy and decision-making in their support, we created an aggregate report in which anyone could access the current state of small business, as well as forecasted trends.”

The State of Small Business report also includes an economic forecast by Dr. Rick Harper, Associate Vice President for the Center for Research and Economic Opportunity at the University of West Florida, as well as data on small business job impact, demographics, top industries, business dynamism, small business lending, Florida’s small business pulse, and more. The report combines data from the U.S. Small Business Administration’s (SBA) Small Business Profile reports, U.S. Bureau of Labor Statistics, U.S. Census Bureau, and other data sources.

State designated as “Florida’s principal provider of business assistance,” the Florida SBDC Network provides tools, resources, and expertise to help small businesses grow and succeed. The Florida SBDC Network is funded in part by the U.S. SBA and is nationally accredited by the Association of SBDCs.

To view a PDF version of the report, click here.

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