South Carolina Small Business Facts
The importance of small businesses to South Carolina is evident in these facts compiled by the U.S. Small Business Administration's Office of Advocacy.
- If the 68,738 full-time business firms with employees in South Carolina, 97.5 percent are small businesses (independent businesses with fewer that 500 workers).
- In addition to the number of employer businesses, there are also 101,000 full-time self-employed persons in South Carolina, for a total estimated full-time business population of 169,738 firms.
- South Carolina's number of women-owned businesses increased 52.1 percent from 1987 to 1992, totaling 64,812.
- The number of Black-owned firms increased 43.1 percent from 1987 to 1992, totaling 18,343 in 1992.
- The number of Hispanic-owned firms, including part-time businesses, rose 169 percent during the same time period with1.057 firms in 1992.
- There has also been a marked increase in the number of businesses owned by Asian and Pacific Islanders, American Indians, and Alaska Natives. The number for the group grew from 965 in 1987 to 1,877 in 1992, representing a 94.5 percent increase.
- Small businesses with fewer that 20 employees reported 7.7 percent employment growth from 1991 to 1995.
- The number of new firms increased 19.7 percent.
-South Carolina Business Journal - June, 1997