Governor McCrory, Secretary Skvarla Share N.C.'s Economic Successes at Small Business Summit | Eastern North Carolina Now

    News Release:

Small Businesses Employ Half of the State's Workforce

    Raleigh, N.C.     Governor Pat McCrory and N.C. Commerce Secretary John E. Skvarla, III joined over 200 business and education leaders today at the 7th annual small business summit to celebrate North Carolina's economic successes.

    "Small businesses employ half of North Carolina's workforce and play an important role in our economy," said Governor McCrory. "I am proud of all the success our state and small businesses have shared this past year, and I look forward to continuing to work together to grow our economy and prepare for the future."

    Small Business Fast Facts:

         •  North Carolina has 833,107 small businesses - those with 500 or fewer employees.

         •  Nearly 1.6 million North Carolinians work for a small business - about half our total private workforce.

         •  In FY 2015, the Small Business Administration (SBA) loan programs put more than half a billion dollars into North Carolina's small businesses.

         •  Small companies dominate North Carolina's construction industry - providing nearly 82% of the total employment in that industry.

         •  Small companies employ nearly 60% of those working in the professional, scientific and technical services industry.

    Under Governor McCrory's reforms, North Carolina employers paid off a $2.5 billion unemployment insurance debt to the federal government, saving businesses $600 million in taxes and fees. Governor McCrory also signed historic tax reform into law that is projected to save hardworking North Carolina families and business owners $4.4 billion during the first five years of tax reform.

    Since January 2013, North Carolina has added the sixth most jobs in the nation and created over 250,000 private sector jobs. North Carolina's employment growth is among the strongest in the nation. Economists anticipate that N.C. will add approximately 100,000 new jobs in 2016 and it is expected that at least half will be in small businesses.

    North Carolina community colleges play an instrumental role in training our small business workforce. All 58 community colleges across the state operate Small Business Centers, which helped establish 771 start-ups in North Carolina and advised more than 5,800 entrepreneurs over the past year.

    North Carolina Community Colleges also partner with the SBA and U.S. Department of Defense in the "Boots to Business" program to provide training and advice to military personnel looking to start their own businesses. In 2015, "Boots to Business" served 700 servicemen and women in N.C. and is part of Governor McCrory's effort to make North Carolina the most military and veteran-friendly state in the nation.

    Contact: Crystal Feldman
       govpress@nc.gov