This report provides a broad index measure of small local business activity for the forty largest metropolitan areas of the United States. Key findings include:
- Small business activity is on the rise 38 of the top 40 largest metropolitan areas.
- The top five metropolitan areas for small business activity as measured by the Index were New York, Boston, Providence, San Francisco and Portland.
- Insights on business owners demographics:
- Metro areas with the highest rates of female business owners were Portland, Ore.; San Francisco; Nashville, Tenn.; Austin, Texas; and Miami.
- Metro areas with the highest rates of older adult business owners (ages 55-64) were Portland, Ore.; Austin; San Diego; Los Angeles; and Miami.
- Metro areas with the highest rates of young adult business owners (ages 20-34) were Miami; Nashville; Austin; Jacksonville; and Portland, Ore.
This index presents an equally weighted index of two normalized measures of small and local business activity:
- The Rate of Business Owners in the economy, calculated as the percentage of adults who own a business on average, per year.
- The Established Small Business Density of a region, measured as the number of established (older than five years) small employer businesses (with less than fifty employees) normalized by population.