Fillable Form 720: HAWAII Small Businesses Small Business Employees (MBDA)

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Form 720: HAWAII Small Businesses Small Business Employees (MBDA)

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HAWAII
128,863
Small Businesses
271,340
Small Business Employees
99.3%
of Hawaii Businesses
51.8%
of Hawaii Employees
EMPLOYMENT
3,718
net new jobs
DIVERSITY
74,187
minority-owned
businesses
TRADE
720
small business
exporters
OVERALL HAWAII ECONOMY
•
In the third quarter of 2017, Hawaii grew at an annual rate of 1.3%, which was slower than the overall US growth rate of
3.4%. Hawaii’s 2016 growth rate of 1.9% was down from the 2015 rate of 3.2%. (Source: BEA)
•
In January 2018, the unemployment rate was 2.1%, down from 2.7% in January 2017. This was below the January 2018
national unemployment rate of 4.1%. (Source: CPS)
EMPLOYMENT
Figure 1: Hawaii Employment by Business Size (Employees)
•
Hawaii small businesses employed 271,340 people, or
fewer than 20
20 to 99
100 to 499
more than 500
0
100K
200K
300K
400K
500K
2000 2005 2010 2015
51.8% of the private workforce, in 2015. (Source: SUSB)
•
Firms with fewer than 100 employees have the largest share
of small business employment. Figure 1 provides further
details on firms with employees. (Source: SUSB)
•
Private-sector employment decreased 0.2% during the 12-
month period ending in January 2018. This was below the
increase of 1.7% during the prior 12-month period. (Source:
CPS)
•
The number of proprietors increased in 2016 by 2.7% rela-
tive to the previous year. (Source: BEA)
•
Small businesses created 3,718 net jobs in 2015. Firms
employing fewer than 20 employees experienced the largest
gains, adding 2,303 net jobs. The smallest gains were in
firms employing 20 to 99 employees, which added 271 net
jobs. (Source: SUSB)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date
government data to present a unique snapshot of small businesses. Small businesses are defined for this profile as firms employing fewer than 500
employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2015 Statistics of US
Businesses (SUSB), 2012 Survey of Business Owners (SBO), and 2015 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy 49 Hawaii Small Business Profile, 2018
Male
F
emale
Nonminor
ity
Minor
ity
Non
veteran
V
eteran
Some
other race
Nativ
e American-Alaskan
Hispanic
Ha
waiian-Pacific Islander
Asian
Afr
ican American
All
Firms
0 5 10 15
INCOME AND FINANCE
• The number of banks was unchanged at 8 between June 2016 and June 2017. (Source: FDIC)
•
In 2016, 28,338 loans under $100,000 (valued at $455.2 million) were issued by Hawaii lending institutions reporting under
the Community Reinvestment Act. (Source: FFIEC)
•
The median income for individuals self-employed at their own incorporated businesses was $49,619 in 2016. For individuals
self-employed at their own unincorporated firms, this figure was $25,065. (Source: ACS)
Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of
the unincorporated self-employed.
EMPLOYER BUSINESS OWNER DEMOGRAPHICS
Figure 2: Hawaii Employees per Business by Owner’s Demographic, 2015
Figure 2 shows the average number of employees per employer business by owner’s demographic group according to the Annual Survey of Entrepreneurs
(ASE). Unshaded bars display US values; data were withheld because they do not meet Census Bureau publication standards or could disclose
information regarding individual businesses.
TURNOVER AMONG ESTABLISHMENTS WITH EMPLOYEES
Figure 3: Hawaii Quarterly Startups and Exits
700
750
800
850
1995 2000 2005 2010 2015
startups exits
•
In the third quarter of 2016, 830 establishments started up,
generating 4,310 new jobs in Hawaii. Startups are counted
when business establishments hire at least one employee
for the first time. (Source: BDM)
•
In the same period, 783 establishments exited resulting in
2,517 jobs lost. Exits occur when establishments go from
having at least one employee to having none, and then
remain closed for at least one year. (Source: BDM)
•
Figure 3 displays quarterly startups and exits from 1992 to
2016. Each series is smoothed across multiple quarters to
highlight long-run trends. (Source: BDM)
The BLS data covers only business establishments with employees. BLS
refers to startups as births and exits as deaths. These terms are distinct
from the BLS openings and closings categories. Openings include sea-
sonal re-openings and closings include seasonal shutterings. Quarterly
startup and exit values may not align with Figure 3 due to smoothing.
SBA Office of Advocacy 50 Hawaii Small Business Profile, 2018
INTERNATIONAL TRADE
•
A total of 847 companies exported goods from Hawaii in 2015. Of these, 720, or 85.0%, were small firms; they generated
69.4% of Hawaii’s $598.0 million in total exports. (Source: ITA)
SMALL BUSINESS EMPLOYMENT BY INDUSTRY AND COUNTY
Table 1: Hawaii Employment by Industry, 2015
Industry Small Business Total Private Small Business
Employment Employment Employment Share
Accommodation and Food Services 53,506 104,743 51.1
Health Care and Social Assistance 33,485 69,873 47.9
Retail Trade 26,906 71,688 37.5
Construction 25,095 29,518 85.0
Other Services (except Public Administration) 22,087 25,471 86.7
Administrative, Support, and Waste Management 21,256 60,148 35.3
Professional, Scientific, and Technical Services 16,827 22,734 74.0
Wholesale Trade 13,466 18,856 71.4
Transportation and Warehousing 11,123 29,911 37.2
Manufacturing 9,777 12,449 78.5
Arts, Entertainment, and Recreation 9,213 11,289 81.6
Educational Services 8,921 16,832 53.0
Real Estate and Rental and Leasing 7,825 12,735 61.4
Finance and Insurance 7,079 18,975 37.3
Information 2,021 8,116 24.9
Management of Companies and Enterprises 1,805 6,258 28.8
Utilities 555 3,688 15.0
Mining, Quarrying, and Oil and Gas Extraction 167 167 100.0
Agriculture, Forestry, and Fishing and Hunting 165 165 100.0
Industries not classified 61 61 100.0
Total 271,340 523,677 51.8
Figure 4: Hawaii Small Business Employment by County, 2015
Small Business
Employment (%)
53
to 55
55 to 56
56
to 58
58
to 59
SBA Office of Advocacy 51 Hawaii Small Business Profile, 2018
SMALL BUSINESSES BY INDUSTRY
Table 2: Hawaii Small Businesses by Industry and Firm Size, 2015
Industry
1-499 Employees
1-20 Employees Nonemployer
Total Small Firms
Firms
Other Services (except Public Administration) 3,065 2,812 16,284 19,349
Health Care and Social Assistance 2,853 2,577 7,886 10,739
Professional, Scientific, and Technical Services 2,818 2,579 15,327 18,145
Accommodation and Food Services 2,785 2,072 2,053 4,838
Construction 2,695 2,392 7,815 10,510
Retail Trade 2,558 2,250 10,059 12,617
Real Estate and Rental and Leasing 1,520 1,421 12,091 13,611
Administrative, Support, and Waste Management 1,490 1,249 8,697 10,187
Wholesale Trade 1,274 1,055 2,641 3,915
Manufacturing 719 593 2,228 2,947
Finance and Insurance 652 566 2,884 3,536
Transportation and Warehousing 633 468 4,064 4,697
Arts, Entertainment, and Recreation 457 344 6,531 6,988
Educational Services 453 343 2,791 3,244
Information 250 214 1,161 1,411
Agriculture, Forestry, and Fishing and Hunting 33 29 1,983 2,016
Utilities 18 12 202 220
Mining, Quarrying, and Oil and Gas Extraction 8 5 10 18
Total 24,156 21,008 104,707 128,863
Figure 4 and Tables 1 and 2 display data from the 2015 SUSB. Table 2 includes additional data from the 2015 Nonemployer Statistics (NES). Data for
counties shown in white in Figure 4 were withheld by the Census Bureau because they do not meet publication standards or could disclose information
regarding individual businesses.
REFERENCES
The Small Business Profiles, source data, and methodology are available at https://go.usa.gov/xQT4w.
ASE Annual Survey of Entrepreneurs, US Census Bureau
BEA Bureau of Economic Analysis, US Department of Commerce
BDM Business Employment Dynamics, BLS
BLS Bureau of Labor Statistics, US Department of Labor
CPS Current Population Survey, BLS
FDIC Call Reports, Federal Deposit Insurance Corporation
FFIEC Federal Financial Institutions Examination Council
ITA International Trade Administration, US Department of Commerce
NES Nonemployer Statistics, US Census Bureau
SBO Survey of Business Owners, US Census Bureau
SUSB Statistics of US Businesses, US Census Bureau
SBA Office of Advocacy 52 Hawaii Small Business Profile, 2018
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