North Dakota may not have the biggest population, however, it is certainly no stranger to small businesses and they make up a large proportion of the overall businesses in the state. North Dakota is known for its reputable universities, thriving professional community, and low cost of living.
The Mount Rushmore State is a great contributor to the economy of the United States. Over the past few years especially, North Dakota has been providing extra support for its businesses in order for them to thrive and succeed, which has had a direct correlation with the state’s recent economic growth too.
Number of Small Businesses in North Dakota in 2021
So, how many small businesses are there in North Dakota? There are 75,427 small businesses in North Dakota, according to the latest figures (2021) from the SBA.
It is not just Americans and locals starting small businesses in North Dakota. The state, although not a huge attraction for international entrepreneurs and foreign-born people, is still home to a number of immigrant entrepreneurs that have decided to call North Dakota their place of business.
There are 1,506 immigrant entrepreneurs in North Dakota that account for 3% of all self-employed North Dakota residents.
The following graph shows the number of small businesses in North Dakota in 2017, 2018, 2019, 2020, and 2021. It also illustrates the precentage increase (or decrease) each year.
Of the 75,427 small businesses in North Dakota in 2021, there is a wide array of different enterprises from small, one-person sole proprietorships or LLCs to much larger businesses with several hundred employees. If you want to join the 75,000-plus small businesses in North Dakota, it is fairly easy to register a business in North Dakota.
Let’s take a closer look into the number of small businesses in North Dakota by looking at the top industries, small business owners, employees, and more!
Latest Small Businesses Statistics in North Dakota in 2021
- Small businesses equate to over 98.8% of all businesses in the state.
- There are 196,368 small business employees in North Dakota, which is 56.7% of the states’ employees.
- In 2019, Small Businesses in North Dakota added 1,485 new jobs!
- Small businesses employing 20 employees or fewer created the most job gains!
- International trade in North Dakota is quite strong and there are 1,742 small business exporters.
- There are more real estate and rental leasing small businesses in North Dakota than any other type – 8,839.
- Construction Firms make up the 2nd largest number of small businesses in North Dakota – 8,523.
How Many Small Businesses in North Dakota?
Over 75,427 is a fair amount of small businesses to be registered in a state that is known for having a very small population size. Compared to the rest of the U.S., the total number of small businesses in North Dakota is 0.23% of all U.S. businesses. There are 32.5 million small businesses in the U.S.
The number of small businesses in North Dakota has been growing over the past several years.
- In 2018 there were 72,723 small businesses, which increased to 73,142 in 2019 (0.57% increase).
- The number of small businesses in North Dakota in 2020 was 74,202. This was 1,060 more than the state had in 2019 (1.44% increase).
- in 2021 the number of small businesses in North Dakota increased by 1,225 to 75,427 (1.4% increase).
North Dakota offers a lot to small businesses and aspiring entrepreneurs from all over the world, due to an abundance of different pro-business factors, with the more notable being a low taxation burden, highly skilled labor force, high per capita personal income and a solid education system with reputable universities.
If you would like to download the latest 2021 Small Business Profile on North Dakota from the U.S. Small Business Administration, Office of Advocacy, the Profile can be downloaded here.