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WASHINGTON – Today, the Office of Advocacy, an independent office within the Small Business Administration, released a report entitled Small Business Profiles for the States and Territories, an annual analysis of each state’s small business activities. The profile includes information on the number of firms, employment, demographics and other topics using the most recently available government data. “Every year the Office of Advocacy strives to produce a small business snapshot for Mississippi’s entrepreneurs and policymakers,” said Christine Kymn, Chief Economist and Director of Economic Research. “We believe today’s report illustrates the importance of Mississippi’s small businesses and the vital role they play in Mississippi’s economy.”
Some highlights of the profile include:
· Mississippi is home to 242,843 small businesses,
· Mississippi’s small businesses employ 430,316 individuals.
· The three industries with the most small business employment include: health care and social assistance; retail trade; and accommodation and food services
· Small businesses made up 75.6 percent of the Mississippi’s exporting companies generating 16.4 percent of the state’s total known export value.
For a detailed report by state, please check out the report here on the Office of Advocacy website.
Background: The Small Business State and Territory Profiles report on the economic status of small business from 2007 to 2014. The profiles are a reference tool for researchers, policymakers, and small entities who are interested in how small firms are performing regionally or nationally. Note that this report generally defines small businesses as firms with fewer than 500 employees.
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The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. For more information, visit www.sba.gov/advocacy, call (202) 205-6533 or get updates on Twitter (@AdvocacySBA) or Facebook at www.facebook.com/AdvocacySBA.
