Georgia Small Business Economic Profile

2021 Small Business Profile

U.S. SMALL BUSINESS ADMINISTRATION

REGULATION

RESEARCH

OUTREACH

Georgia

1.1 million small businesses

99.6 percent of Georgia businesses

1.7 million small business employees

42.8 percent of Georgia employees

Percent

100 75 50 25 0

Share of employees working at small businesses by county

Source of data: Statistics of US Businesses (Census)

Business dynamics

Establishments Between March 2019 and March 2020, 32,663 Georgia establishments opened and 29,359 closed, for a net increase of 3,304. Employment expanded at 56,693 and contracted at 55,900. Small businesses accounted for 31,554 openings and 28,261 closings.

Thousands of establishments

20

Openings

0

-20

Closings

2000

Employment Opening and expanding Georgia establishments added 433,240 jobs, while closing and contracting establishments lost 404,747, for a net increase of 28,493 jobs. Small businesses gained 345,185 jobs and lost 312,779, for a net increase of 32,406 jobs.

Thousands of jobs 600

300

Gains

0

-300

Losses

-600 2000

Counts include temporary closures and reopenings Source: Business Employment Dyynamics (BLS)

1

Net change 2010

2020

Net change

2010

2020

Small business loans

The Community Reinvestment Act requires large banks to report new small business loans. In 2019, reporting banks issued $2.7 billion in loans to Georgia businesses with revenues of $1 million or less. Total reported new lending to businesses through loans of $100,000 or less was $3.0 billion, and total reported new lending to businesses through loans of $1 million or less was $7.6 billion.

Source: CRA Aggregate Data (FFIEC)

New lending to businesses with revenues under $1 million

$Billion

5

4

3

2

1

0

2000

2005

2010

2015

2020

Small business count by size and industry

Industry

No employees

1?19 employees

Other Services (except Public Administration) Professional, Scientific, and Technical Services Administrative, Support, and Waste Management Construction Transportation and Warehousing Real Estate and Rental and Leasing Health Care and Social Assistance Retail Trade Arts, Entertainment, and Recreation Accommodation and Food Services Educational Services Finance and Insurance Wholesale Trade Manufacturing Information Agriculture, Forestry, Fishing and Hunting Utilities Management of Companies and Enterprises Industries not classified Mining, Quarrying, and Oil and Gas Extraction

138,277 116,194 119,591 106,860 89,324 83,744 71,717 68,960 46,380 19,359 28,860 23,325 12,383 10,982 12,310

6,698 502 * * 155

18,793 25,506 8,969 16,725 4,629 9,232 16,251 19,292 2,844 11,240 2,279 6,952 8,041 4,381 2,044

822 70 139 446 63

Total

955,621

158,601

* Not reported by the Census Bureau Sources: Nonemployer Statistics, 2018 (Census); Statistics of US Businesses, 2018 (Census)

20?499 employees

1,489 1,861 1,311 1,696

749 484 2,589 1,561 382 4,080 560 627 1,754 1,651 399 90 55 363

0 23

20,967

All small businesses

158,559 143,561 129,871 125,281 94,702 93,460 90,557 89,813 49,606 34,679 31,699 30,904 22,178 17,014 14,753

7,610 627 502 446 241

1,135,189

Small business exports A total of 15,099 identified firms exported goods worth $38.3 billion from Georgia in 2019. Of those exporters, 13,232--or 87.6 percent--were small. Small firms exported goods worth $10.5 billion, making up 27.4 percent of exports by identified firms.

Source: A profile of US importing and exporting companies, 2018?2019 (Census)

Georgia 2021

2

SBA Office of Advocacy

Business ownership share by demographic group Women

Workers Ownership

Veterans Workers

Ownership

Hispanics Workers

Ownership

Racial minorities Workers

Ownership

Women made up 48.2 percent of workers and owned

45.8 percent of businesses.

Veterans made up 6.0 percent of workers and owned

7.8 percent of businesses.

Hispanics made up 9.2 percent of workers and owned

7.8 percent of businesses.

Racial minorities made up 39.6 percent of workers and owned

35.9 percent of businesses.

Ownership shares include equal and majority ownership Sources of data: American Community Survey, 2018 (Census and IPUMS); Annual Business Survey, 2018 (Census); Nonemployer Statistics by Demographics, 2017 (Census)

Business count by owner demographic group

Ownership

Without employees

With employees

Female Male

Owned equally by both groups

416,000 468,000 15,500

36,913 109,447 20,051

Veteran Not veteran

Owned equally by both groups

63,000 833,000

3,300

13,261 149,226

3,923

Hispanic Not Hispanic

Owned equally by both groups

75,500 823,000

850

6,211 159,327

*

American Indian and Alaska Native Asian Black or African American Native Hawaiian and Other Pacific Islander White

1,700 55,500 292,000

650 548,000

410 21,378 9,300

164 135,651

Hispanic or racial minority White and not Hispanic

Owned equally by both groups

407,000 491,000

1,700

36,976 127,683

1,752

* Not reported by the Census Bureau; counts include only businesses classifiable by owner demographic group Sources: Annual Business Survey, 2018 (Census); Nonemployyer Statistics by Demographics, 2017 (Census)

Total

452,913 577,447 35,551

76,261 982,226

7,223

81,711 982,327

*

2,110 76,878 301,300

814 683,651

443,976 618,683

3,452

Georgia 2021

3

SBA Office of Advocacy

Million

3 2 1 0 1995

Total Georgia employment by business size

Source of data: Statistics of US Businesses (Census)

500 employees or more

100 to 499 20 to 99

fewer than 20

2000

2005

2010

2015

G

Georgia small business employment grew by 31.1

percent between 1994 and 2018, which

exceeded the national small business

employment growth rate.

G

Small business employment and payroll by industry

Employers

Industry

Small

%

Professional, Scientific, and Technical Services Retail Trade Other Services (except Public Administration) Health Care and Social Assistance Construction Accommodation and Food Services Administrative, Support, and Waste Management Wholesale Trade Real Estate and Rental and Leasing Finance and Insurance Manufacturing Transportation and Warehousing Arts, Entertainment, and Recreation Educational Services Information Agriculture, Forestry, Fishing and Hunting Management of Companies and Enterprises Industries not classified Utilities Mining, Quarrying, and Oil and Gas Extraction

27,367 20,853 20,282 18,840 18,421 15,320 10,280 9,795 9,716 7,579 6,032 5,378 3,226 2,839 2,443

912 502 446 125 86

98.0 97.6 99.1 98.4 99.1 98.0 95.4 92.6 97.9 94.8 90.9 92.3 98.2 97.5 90.1 98.7 49.5 100.0 85.6 82.7

Total

179,568 97.6

Source: Statistics of US Businesses, 2018 (Census)

Employment

Small

%

153,558 145,496 137,501 227,763 147,426 267,872 117,630 102,633 39,970 52,663 129,749 44,060 32,252 47,417 28,410

6,859 9,825

339 6,753 1,972

54.6 30.4 84.3 44.2 77.4 59.3 30.2 47.6 56.9 30.0 33.4 22.3 59.4 51.9 21.1 93.2 7.0 100.0 27.4 37.8

1,700,148 42.8

Payroll ($1,000s)

Small

%

10,738,619 4,886,189 4,051,704 9,699,322 8,116,622 4,437,695 4,476,804 6,278,003 2,079,767 3,669,203 6,224,539 1,919,008

816,270 1,491,325 2,107,000

295,712 913,548 12,833 557,274 122,673

47.2 37.6 79.7 36.9 71.5 57.4 32.4 43.1 44.7 22.7 30.4 17.4 44.5 39.3 16.7 91.3 5.7 100.0 23.7 34.8

72,894,110 35.7

About this profile Small businesses are defined here as firms with fewer than 500 employees. Figures and statistics may incorporate approximations because of missing or otherwise problematic data. Data analyzed here predate the COVID-19 pandemic, the impacts of which have differed by industry, geography, and demographic group. More information about the impacts of the pandemic, electronic versions of these and other geograpphic profiles, and additional resources are available at httpp://advocacyy..

Georgia 2021

4

SBA Office of Advocacy

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download