Private sector employment increased in 2015


Staff report

YOUNGSTOWN

In Ohio, private-sector employment increased by 1.8 percent in 2015, according to the U.S. Small Business Administration’s small-business profile for Ohio.

The small-business profile includes an array of facts from the latest data on small businesses.

The state has more than 927,600 small businesses.

A total of 2.1 million are employed by small businesses in Ohio, according to the latest government data from 2013.

A survey of small-business owners between 2007 and 2012 shows a 48.9 percent increase in minority ownership.

Small businesses created 11,689 net jobs in 2013. Firms employing 250 to 499 employees experienced the largest gains, adding 12,148 net jobs. The largest losses were in firms employing one to four employees, which lost 2,662 net jobs.

The number of proprietors increased in 2014 by 1.3 percent relative to the previous year.

In 2014, Ohio lending institutions, reporting under the Community Reinvestment Act, issued 142,036 loans under $100,000.

Data from 2013 show most small businesses fall under the “other services” industry.

In the U.S., there are more than 28 million small businesses. As of 2013, U.S. small businesses employed 56.8 million people, or 48 percent of the private workforce.

In the U.S., private-sector employment increased 2.2 percent in 2015. This was below the previous year’s increase of 2.5 percent.

U.S. small businesses employed 56.8 million people, or 48 percent of the private workforce, in 2013.

In 2014, 5.2 million loans under $100,000 were issued by U.S. lending institutions reporting under the Community Reinvestment Act.

A total of 304,223 companies exported goods from the U.S. in 2013. Among these, 297,343, or 97.7 percent, were small firms. They generated 33.6 percent of the U.S.’ total known export value.

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