Shop Small Facts:
• There are 74,202 small businesses in North Dakota, representing 98.8% of all ND businesses, with 195,312 employees. Combined with Minnesota, the two states have 600,000 small business employing 1.5 million workers.
• There are 65 SCORE mentors across North Dakota; 18 of them serve the FMWF area.
• According to the latest U.S. Census Bureau’s survey of small business owners, there are 2.52 million veteran majority-owned businesses in the U.S. In the same report the, the Small Business Administration (SBA) reveals veteran owned small businesses employ more than 5 million people in the U.S. with an annual payroll of $195 billion. Additionally, they generated revenue of $1.14 trillion and represent 9.15% of all U.S. businesses
• U.S. Small Business Administration lending continues to reflect strong economic trends during the period October 1, 2018 to September 30, 2019. In North Dakota, the SBA approved 183 7(a) and 504 loans worth $76.1 million to North Dakota small businesses.