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GEORGIA Small Businesses Small Business Employees 1.0 million (MBDA)

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GEORGIA
1.0 million
Small Businesses
1.6 million
Small Business Employees
99.6%
of Georgia Businesses
43.2%
of Georgia Employees
EMPLOYMENT
73,251
net new jobs
DIVERSITY
371,524
minority-owned
businesses
TRADE
12,667
small business
exporters
OVERALL GEORGIA ECONOMY
•
In the third quarter of 2017, Georgia grew at an annual rate of 3.2%, which was slower than the overall US growth rate of
3.4%. Georgia’s 2016 growth rate of 3.0% was down from the 2015 rate of 3.1%. (Source: BEA)
•
In January 2018, the unemployment rate was 4.5%, down from 5.3% in January 2017. This was above the January 2018
national unemployment rate of 4.1%. (Source: CPS)
EMPLOYMENT
Figure 1: Georgia Employment by Business Size (Employees)
•
Georgia small businesses employed 1.6 million people, or
fewer than 20
20 to 99
100 to 499
more than 500
0
1M
2M
3M
2000 2005 2010 2015
43.2% 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 increased 2.6% during the 12-
month period ending in January 2018. This was below the
increase of 3.6% during the prior 12-month period. (Source:
CPS)
•
The number of proprietors increased in 2016 by 2.4% rela-
tive to the previous year. (Source: BEA)
•
Small businesses created 73,251 net jobs in 2015. Firms
employing fewer than 20 employees experienced the largest
gains, adding 37,573 net jobs. The smallest gains were in
firms employing 100 to 499 employees, which added 9,406
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 45 Georgia Small Business Profile, 2018
INCOME AND FINANCE
• The number of banks decreased by 11 between June 2016 and June 2017 to 181 banks. (Source: FDIC)
•
In 2016, 172,076 loans under $100,000 (valued at $2.3 billion) were issued by Georgia lending institutions reporting under
the Community Reinvestment Act. (Source: FFIEC)
•
The median income for individuals self-employed at their own incorporated businesses was $45,293 in 2016. For individuals
self-employed at their own unincorporated firms, this figure was $21,529. (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: Georgia Employees per Business by Owner’s Demographic, 2015
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 2 4 6 8 10 12
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: Georgia Quarterly Startups and Exits
4,000
5,000
6,000
7,000
1995 2000 2005 2010 2015
startups exits
•
In the third quarter of 2016, 7,830 establishments started
up, generating 34,863 new jobs in Georgia. Startups are
counted when business establishments hire at least one
employee for the first time. (Source: BDM)
•
In the same period, 7,140 establishments exited resulting
in 29,628 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 46 Georgia Small Business Profile, 2018
Small Business
Employment (%)
25
to 46
46 to 55
55
to 71
71
to 100
INTERNATIONAL TRADE
•
A total of 14,369 companies exported goods from Georgia in 2015. Of these, 12,667, or 88.2%, were small firms; they
generated 28.9% of Georgia’s $35.6 billion in total exports. (Source: ITA)
SMALL BUSINESS EMPLOYMENT BY INDUSTRY AND COUNTY
Table 1: Georgia Employment by Industry, 2015
Industry
Accommodation and Food Services
Health Care and Social Assistance
Professional, Scientific, and Technical Services
Retail Trade
Other Services (except Public Administration)
Construction
Manufacturing
Administrative, Support, and Waste Management
Wholesale Trade
Finance and Insurance
Educational Services
Transportation and Warehousing
Real Estate and Rental and Leasing
Arts, Entertainment, and Recreation
Information
Management of Companies and Enterprises
Agriculture, Forestry, and Fishing and Hunting
Utilities
Mining, Quarrying, and Oil and Gas Extraction
Industries not classified
Total
Small Business
Employment
241,117
211,275
146,863
141,117
131,544
128,229
125,209
110,691
103,908
53,405
43,684
42,472
37,975
28,216
24,411
10,033
7,037
6,771
2,404
576
1,596,937
Total Private
Employment
403,873
478,276
252,351
468,517
156,605
164,767
365,088
377,195
204,669
173,080
83,713
176,600
59,555
46,741
118,864
124,169
7,530
24,886
5,435
576
3,692,490
Small Business
Employment Share
59.7
44.2
58.2
30.1
84.0
77.8
34.3
29.3
50.8
30.9
52.2
24.0
63.8
60.4
20.5
8.1
93.5
27.2
44.2
100.0
43.2
Figure 4: Georgia Small Business Employment by County, 2015
SBA Office of Advocacy 47 Georgia Small Business Profile, 2018
SMALL BUSINESSES BY INDUSTRY
Table 2: Georgia Small Businesses by Industry and Firm Size, 2015
Industry
1-499 Employees
1-20 Employees Nonemployer
Total Small Firms
Firms
Professional, Scientific, and Technical Services 26,645 24,867 104,953 131,598
Retail Trade 20,627 19,074 64,078 84,705
Other Services (except Public Administration) 19,320 17,914 165,194 184,514
Health Care and Social Assistance 18,131 15,786 69,835 87,966
Construction 16,586 15,089 94,950 111,536
Accommodation and Food Services 14,009 10,359 15,378 29,387
Wholesale Trade 10,034 8,250 13,237 23,271
Administrative, Support, and Waste Management 9,789 8,518 99,092 108,881
Real Estate and Rental and Leasing 8,412 7,910 75,243 83,655
Finance and Insurance 7,429 6,758 22,518 29,947
Manufacturing 6,005 4,397 10,850 16,855
Transportation and Warehousing 4,861 4,147 53,124 57,985
Arts, Entertainment, and Recreation 2,756 2,414 39,912 42,668
Educational Services 2,664 2,139 24,921 27,585
Information 2,082 1,730 10,883 12,965
Agriculture, Forestry, and Fishing and Hunting 919 822 5,904 6,823
Utilities 115 60 680 795
Mining, Quarrying, and Oil and Gas Extraction 113 85 145 258
Total 170,618 150,817 870,897 1,041,515
Figure 4 and Tables 1 and 2 display data from the 2015 SUSB. Table 2 includes additional data from the 2015 Nonemployer Statistics (NES).
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 48 Georgia Small Business Profile, 2018
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