Seattle Ranked as 10th Best City for Small Business
A recent study from the Ewing Marion Kauffman Foundation titled Main Street Entrepreneurship, looked at the activity of small businesses in the United States. It found that it was on the rise in 2015 and that Seattle ranked 10th on the small-business index, which calculates the percentage of adults who own a small business in a region in a year, as well as the density of these enterprises that are at least five years old.
The study revealed that small business activity is finally back to pre-recession numbers. The index measured business activity along two distinct and complementary dimensions: the rate of business owners in the economy (the percentage of adults owning a business in a given month) and the established small business density (the ratio of established small employer businesses compared to the population).
In a press release from the Ewing Marion Kauffman Foundation, Maria Contreras-Sweet, administrator of the U.S. Small Business Administration talked about the index. “Main Street Entrepreneurship is at the heart of the American economy,” she said. “This Index is an important step forward, equipping us with the information required to make wise policy decisions and ensure the continued vitality of our entrepreneurial ecosystem.”
According to the index, Washington ranked seventh among the 25 most populous states, the same as last year. In Seattle, specifically, there are approximately 1,112 small businesses per 100,000 residents, and approximately 6.08% of the population owns a small business as their main job. For more information about the ranking, you can read the full report here.
Seattle University’s Albers School of Business and Economics MBA program is an excellent program for small business owners. Their Executive MBA is perfect for busy business owners who can only meet once a month in compact, 3-day modules. Plus, the Innovation & Entrepreneurship Center is ideal for students who are looking to build and nourish their entrepreneurial spirit.