Majority of Wisconsin jobs are at small businesses

By KRISTEN KLAHN - Special to The Freeman

June 21, 2014

MADISON - 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.

Those small 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.

However, the 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.

Business bankruptcies declined in net from 2010 to 2013, signaling a stronger state economy, according to the statistics.