How Many Small Businesses in North Carolina?
As of recent counts, North Carolina has slightly over 1 million small businesses that represent approximately 99.6% of all businesses in the state. The businesses are a primary driver of North Carolina's economy via innovation, job provision, and supporting communities.
Small businesses in North Carolina employ a total of about 1.7 million people, nearly 45% of the private-sector workforce. From sole proprietors and home-based firms to restaurants, contractors, and tech startups, small businesses can be found in nearly every sector in the state.
Definition of a Small Business
According to the U.S. Small Business Administration (SBA), a small business usually employs fewer than 500 people. In North Carolina, a majority of small businesses are even smaller, many employ fewer than 20 people or are run by individual entrepreneurs. They represent limited liability companies (LLCs), partnerships, and sole proprietorships.
North Carolina’s Support for Small Business Growth
North Carolina consistently ranks as one of the top states for small business activity. Some of the key reasons why are:
- A pro-business environment with low corporate taxes
- A growing population and consumer market
- Access to qualified talent through universities and technical schools
- Strong support networks, including the Small Business and Technology Development Center (SBTDC) and the NC Small Business Center Network (SBCN)
These resources provide entrepreneurs at every level with free training, business counseling, funding information, and licensing support.
North Carolina is home to over 1 million small businesses, fueling nearly half the state's employment and local economic growth.
