Economic Impact of Small Business

The numbers don’t lie. Small businesses have a major impact on the Triangle economy. In the Triangle region alone, nearly 80,000 people are employed by small businesses. Also, more than 80 percent of businesses in the Raleigh Metropolitan Statistical Area (MSA) are small businesses with 20 employees or fewer. Check out those and other numbers below showing why small businesses are a critical factor behind the region’s vitality.

More than 2400 women-owned firms call Raleigh Home

Source: https://www.census.gov/quickfacts/fact/table/raleighcitynorthcarolina,US/SBO020217

Over 2,500 Start-ups established in the Triangle Region

Source: Pitchbook | 2021

Raleigh is home to more than 600 startup companies in a wide range of industry sectors including Software, Life Sciences, Consumer Products

Source: https://raleigh-wake.org/business-advantages/innovation-ecosystem/by-the-numbers

30% of small business owners say the economy has improved compared to 12 months ago (up 7 points from January), and 26% say that the economy has gotten worse over the past year (10 points less than January).

Source: https://www.uschamber.com/small-business/small-business-weekly-forecast

24% of small business owners believe the economy will improve in the next 12 months (up 8 points from a year ago) and 22% believe the economy will worsen (down 5 points from January).

Source: https://www.uschamber.com/small-business/small-business-weekly-forecast

#1

#1

Top 10 Best Places for Businesses

  (Ramsey Solutions 2023)

#2

#5

Best State for Black Entrepreneurs

(Working In The Triangle)

#7

#9

Best Cities to Start a Business

(Policy Genius 2024)

Top 100

Emerging Ecosystem Rankings

(Research Triangle)