Florida SBDC Report: State of Florida’s Small Business

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

florida sbdc state of small business report

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 second annual 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 2.3 million small businesses, of which employ 3.1 million or 43.2 percent of the state’s private-sector workforce. Florida’s small businesses create three out of every four jobs and have been a major contributor to the 1.2 million private sector jobs created since December 2010.

“Small businesses are critical to our economy,” said Michael Myhre, CEO and Network State Director for the Florida SBDC. “Florida consistently ranks as one of the best states for business, however small businesses continue to face a host of challenges, including cybersecurity and access to capital. Our hope is that this report will serve as a primary index on the state of Florida’s small businesses for future policy and decision-making in their support.”

The State of Small Business report includes an economic forecast by Dr. Rick Harper, Associate Vice President for the UWF Center for Research and Economic Opportunity, as well as data on small business demographics, overview of small business challenges, outlook on small business lending, 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.

To read the report, please click here.