LIVE STREAMING
Photo: Tony Fischer via Flickr (under license CC BY 2.0)
Photo: Tony Fischer via Flickr (under license CC BY 2.0)

PA's small biz ownership is diversifying

According to a new state jobs profile, PA has seen a significant increase in minority ownership of small businesses.

MORE IN THIS SECTION

"I'm the guagua 47"

June 25th, 2022

Gun Legislation At Last

June 25th, 2022

The boom of Bolivian cinema

June 25th, 2022

Colombian leader at NASA

June 24th, 2022

Philly Rallies for Roe

June 24th, 2022

"Roe is on the ballot"

June 24th, 2022

Abortion hits home in PA

June 24th, 2022

Abortion Bans Come Quick

June 24th, 2022

SHARE THIS CONTENT:

Pennsylvania’s small businesses have seen a 36.7 percent increase in minority ownership, according to the Small Business Administration’s Office of Advocacy.

Every year, the office releases a profile of the state of small business for each state across the country. Last week, the agency released this year's profiles which contain data taken from studies and surveys performed over the last decade. The profiles combine data and research from various government agencies and organization such as the Bureau of Labor Statistics. 

One survey, conducted during the height of the Great Recession by the U.S. Census Bureau, found that Latino-owned small businesses increased by almost 53 percent. This increase represents the largest ownership demographic change recorded by the survey. Overall, minority ownership was on the rise.

Small businesses make an undeniable impact on the state’s economy. In 2014, loans under $100,000 issued by Pennsylvania lending institutions were valued at $3.1 billion. Around 89 percent of all exports in the state came from small businesses.

Employees working in small businesses make up just under 47 percent of the state’s workforce. The office defines a small business as any firm made up of 500 or fewer employees.

This image shows a breakdown of net job change percentages for the small business industry by county. Data is from the Bureau of Labor statistics. Image courtesy of the SBA Office of Advocacy. 

You can read the full profile here.

  • LEAVE A COMMENT:

  • Join the discussion! Leave a comment.

  • or
  • REGISTER
  • to comment.
  • LEAVE A COMMENT:

  • Join the discussion! Leave a comment.

  • or
  • REGISTER
  • to comment.
00:00 / 00:00
Ads destiny link