Washington’ s economy is supported by small businesses, and it was small business that pulled the state through difficult economic times. According to the Brookings Institution, the nation’ s small business sector is one of the great strengths of the U. S. economy, historically accounting for 64 percent of net new jobs. New and young small businesses have generated 40 million jobs in the past 25 years, representing 20 percent of gross job creation. new and young small businesses have generated
40 million u. s. jobs in the past 25 years
According to 2013 data, small businesses in Washington state numbered 555,285, or 98 percent of all businesses. They employed 1.3 million workers or 51.7 percent of the state’ s workforce. There was a net 43,690 new jobs created by small businesses and, as the most trade dependent state in the country, Washington’ s small employers make up 89.9 percent of all exporters in the state. A robust 20.4 percent of the state’ s workforce is employed by firms with fewer than 20 employees.( Source: Small Business Administration) historically, small businesses account for 64 % of net new jobs.
Source: The Brookings Institution more than of the state’ s
20 % workforce is employed by firms with fewer than 20 employees.
Highest Percentage of Small Establishments Surviving from 2013-14
Washington |
87.4 % |
Delaware |
84.7 % |
Wisconsin |
83.1 % |
Connecticut |
82.1 % |
Utah |
81.8 % |
South Carolina * |
81.5 % |
Massachusetts * |
81.5 % |
New York |
80.7 % |
Texas * |
80.6 % |
South Dakota * |
80.6 % |
* Indicates a tie
It is important to note that small businesses accounted for 63.3 percent of net new jobs from the third quarter of 1992 until the third quarter of 2013. This review of our 2016 small business listening tour underscores the importance of small business to our state’ s economy and the struggles the state’ s smallest operators are encountering that prevent them from growing and retaining jobs. Our state’ s diverse industry portfolio, led by professional, scientific and technical services, underscores the state’ s attitude of entrepreneurship and innovation.
As the state’ s chamber of commerce representing nearly 7,000 employers, the Association of Washington Business( AWB) works to ensure the state supports the needs of industry. Washington state’ s business climate, workforce training needs and business expansion are just a few of the issues AWB addresses through its advocacy work and as a representative on state-level boards and organizations.