Small businesses throughout the state employed over half, or 1.2
million, of the stateís private workforce in 2011, according to
the U.S. Small Business Administration.
businesses created 20,312 net new jobs in 2011, the statistics
showed. The largest gain was with companies that had between 100
and 499 employees.
stateís economy grew at a slower rate than the rest of the
United States in 2012. While the national average was 2.5 percent
for U.S. gross domestic product, Wisconsinís gross state product
only increased by 1.5 percent.
The SBA found
that most small businesses within the state are sole proprietors,
and annual income from sole proprietorships increased 7.4 percent
in the third quarter of 2013, totaling $16.5 billion.
In 2011, there
were approximately 115,000 woman-owned businesses and 27,000
minority-owned businesses. Statistics also showed that in the
second quarter of 2013, 6,327 establishments opened and 5,595
closed within the state.
bankruptcies declined in net from 2010 to 2013, signaling a
stronger state economy, according to the statistics.