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ILLINOIS Small Businesses Small Business Employees 1.2 million (MBDA)

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ILLINOIS
1.2 million
Small Businesses
2.5 million
Small Business Employees
99.6%
of Illinois Businesses
45.5%
of Illinois Employees
EMPLOYMENT
68,276
net new jobs
DIVERSITY
311,609
minority-owned
businesses
TRADE
20,192
small business
exporters
OVERALL ILLINOIS ECONOMY
•
In the third quarter of 2017, Illinois grew at an annual rate of 3.5%, which was faster than the overall US growth rate of
3.4%. Illinois’s 2016 growth rate of 1.0% was down from the 2015 rate of 1.2%. (Source: BEA)
•
In January 2018, the unemployment rate was 4.8%, down from 5.2% in January 2017. This was above the January 2018
national unemployment rate of 4.1%. (Source: CPS)
EMPLOYMENT
Figure 1: Illinois Employment by Business Size (Employees)
•
Illinois small businesses employed 2.5 million people, or
fewer than 20
20 to 99
100 to 499
more than 500
0
1M
2M
3M
4M
5M
2000 2005 2010 2015
45.5% 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 0.3% during the 12-
month period ending in January 2018. This was above
the decrease of 0.2% during the prior 12-month period.
(Source: CPS)
•
The number of proprietors increased in 2016 by 2.3% rela-
tive to the previous year. (Source: BEA)
•
Small businesses created 68,276 net jobs in 2015. Firms
employing fewer than 20 employees experienced the largest
gains, adding 37,179 net jobs. The smallest gains were in
firms employing 20 to 99 employees, which added 11,282
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 57 Illinois 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 2 4 6 8 10
INCOME AND FINANCE
• The number of banks decreased by 23 between June 2016 and June 2017 to 459 banks. (Source: FDIC)
•
In 2016, 206,410 loans under $100,000 (valued at $2.8 billion) were issued by Illinois lending institutions reporting under
the Community Reinvestment Act. (Source: FFIEC)
•
The median income for individuals self-employed at their own incorporated businesses was $51,453 in 2016. For individuals
self-employed at their own unincorporated firms, this figure was $24,280. (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: Illinois 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: Illinois Quarterly Startups and Exits
6,500
7,000
7,500
8,000
1995 2000 2005 2010 2015
startups exits
•
In the third quarter of 2016, 7,597 establishments started
up, generating 31,194 new jobs in Illinois. Startups are
counted when business establishments hire at least one
employee for the first time. (Source: BDM)
•
In the same period, 8,193 establishments exited resulting
in 30,473 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 58 Illinois Small Business Profile, 2018
INTERNATIONAL TRADE
•
A total of 22,510 companies exported goods from Illinois in 2015. Of these, 20,192, or 89.7%, were small firms; they
generated 25.9% of Illinois’s $57.9 billion in total exports. (Source: ITA)
SMALL BUSINESS EMPLOYMENT BY INDUSTRY AND COUNTY
Table 1: Illinois Employment by Industry, 2015
Industry
Health Care and Social Assistance
Accommodation and Food Services
Manufacturing
Professional, Scientific, and Technical Services
Other Services (except Public Administration)
Retail Trade
Wholesale Trade
Construction
Administrative, Support, and Waste Management
Finance and Insurance
Transportation and Warehousing
Educational Services
Real Estate and Rental and Leasing
Arts, Entertainment, and Recreation
Information
Management of Companies and Enterprises
Mining, Quarrying, and Oil and Gas Extraction
Utilities
Agriculture, Forestry, and Fishing and Hunting
Industries not classified
Total
Small Business
Employment
353,980
317,124
264,778
218,155
210,440
203,803
170,737
163,902
150,510
103,189
79,174
68,318
51,762
50,717
35,636
16,728
5,539
2,733
1,268
576
2,469,069
Total Private
Employment
796,016
506,747
540,999
403,049
249,650
626,903
316,297
198,152
518,574
334,298
242,399
167,097
76,489
79,139
123,407
208,258
9,497
28,014
1,988
576
5,427,549
Small Business
Employment Share
44.5
62.6
48.9
54.1
84.3
32.5
54.0
82.7
29.0
30.9
32.7
40.9
67.7
64.1
28.9
8.0
58.3
9.8
63.8
100.0
45.5
Figure 4: Illinois Small Business Employment by County, 2015
Small Business
Employment (%)
34
to 49
49 to 59
59
to 76
76
to 100
SBA Office of Advocacy 59 Illinois Small Business Profile, 2018
SMALL BUSINESSES BY INDUSTRY
Table 2: Illinois 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 36,199 33,580 127,678 163,877
Other Services (except Public Administration) 29,471 27,259 151,746 181,217
Construction 28,330 26,614 91,574 119,904
Health Care and Social Assistance 25,775 22,310 93,006 118,781
Retail Trade 23,392 20,982 69,541 92,933
Accommodation and Food Services 21,156 16,564 13,181 34,337
Wholesale Trade 14,345 11,574 14,376 28,721
Administrative, Support, and Waste Management 14,166 12,492 75,182 89,348
Transportation and Warehousing 13,365 12,222 100,068 113,433
Finance and Insurance 11,835 10,597 30,380 42,215
Manufacturing 11,724 8,361 10,665 22,389
Real Estate and Rental and Leasing 9,882 9,203 92,271 102,153
Arts, Entertainment, and Recreation 4,294 3,659 49,692 53,986
Educational Services 3,794 2,934 30,059 33,853
Information 2,828 2,332 11,435 14,263
Mining, Quarrying, and Oil and Gas Extraction 437 379 1,969 2,406
Agriculture, Forestry, and Fishing and Hunting 300 286 4,957 5,257
Utilities 150 105 550 700
Total 251,324 221,965 968,330 1,219,654
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 60 Illinois Small Business Profile, 2018
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