It’s small business week!
May 5 – 11 is National Small Business Week according to the U.S. Small Business Administration. It’s also National Economic Development week. Since our economic development strategy is centered on diversifying the local economy with small business development and support. We want to celebrate this week by sharing information about the tremendous impact and power behind small businesses in the U.S. Look at the number of Employer Firms and Employer Establishments with fewer than 20 employees vs Establishments and Firms with 500+ employees. Now that’s power!
The Business of Small Business in North Dakota
Low Tax Burden: North Dakota's corporate income tax is a three-bracket system topping out at 4.31 percent
High Per Capita Personal Income: $54,306 in 2018
Small Business Hotspot: In 2016 ND had the highest start-ups per capita