Small Business Trends 2021

Since 2000, small businesses have accounted for 65.1% of net new job creation. According to SBA’s Office of Advocacy, small businesses produced 46% of the private nonfarm GDP in 2008 (most recent year for which the source data are available).

Small Business Trends Skip Ahead:


Number of US Business Applications by Month (2018-2021)

This graph displays the number of business applications submitted in each month of the year from 2018 to 2021 August.

  • Hover over any point on a colored line to see the details
  • Click on the year on the upper left corner to toggle ON/OFF

Data Source: Census.gov

Number of US Business Applications by Sector (2018-2021)

This round graph shows the number of business applications in each sector over the last 4 years, including this year up to the present. Each year is given a different color and different section of the circle. Within a given year, the most popular industries are represented, with the size of each listing reflecting the number of new applications that year. This gives you a notion of the growing or shrinking popularity of various industries with just a glance.

  • Hover over the chart to see the details

Data Source: Census.gov

Business Applications by Sector Over Time (2021)

This chart shows the popularity of new business applications in each sector over time. You can watch the trends develop as certain industries gain popularity while others decline or are superseded. The chart shows the top ten industries at any given moment.

  • Click on sector name on the top of the graph to toggle ON/OFF
  • Use the Pause/Play button on bottom left

Data Source: Census.gov

Most popular sectors to start a business in August 2021

This chart shows the popularity of the different sectors according to how many business applications were submitted for each in August 2021. The size of the rectangle reflects the number of applications in that sector.

  • Hover over each box for details

Data Source: Census.gov

Number of US Business Applications by State in the month of August (2004 - 2021)

The graph below shows the number of business applications submitted in each of the fifty states in August of the years 2004 through 2021. The color gives you an idea of how many business applications were submitted in any given state: the darker the blue, the more applications submitted.

  • Hover over a state to see the exact number of business applications for that state.
  • Use the search bar in the upper left to select a state
  • Click the drop-down menu in the upper left corner to change the year

5 Most Popular States to Start a Business in: August 2021

Check this list of the 5 U.S. states where the most startups are formed - our list is updated each month

  1. California
  2. Texas
  3. Florida
  4. New York
  5. Georgia

TRUiC most popular business ideas by state

Here are the most popular business ideas being searched for on TRUiC websites from the most popular states for business formation. 

California

Texas

Florida

New York

Georgia

Small Business’s Economic Indicators

These data display how various economic indicators are either rising or falling in recent weeks. Depending on what sector your business is in, you may focus on one or two of these, or consider all of them as signposts helping you to spot economic trends.

Business Formation Statistics

An orange arrow pointing down

July 2021

+1.2% change

June 2021

-10.0% change

Total U.S. Business Applications were 454,460 in July 2021, up 1.2% from June 2021.

Monthly Wholesale Inventories

An orange arrow pointing down

June 2021

+1.1% change in Inventories

May 2021

+1.3% change in Inventories

June 2021 sales of merchant wholesalers were $588.1 billion, up 2.0 percent (+/- 0.4 percent) from last month. End-of-month inventories were $717.6 billion, up 1.1 percent (+/- 0.2 percent) from last month.

Manufacturers Goods

An orange arrow pointing down

June 2021

+1.5% change

May 2021

+2.3% change

New orders for manufactured goods in June increased $7.4 billion or 1.5 percent to $506.0 billion.

Construction Spending

An orange arrow pointing down

July 2021

+0.3% change

June 2021

-0.0% change

Total construction activity for July 2021 ($1,568.8 billion) was 0.3 percent (+/-1.2 percent)* above the revised June 2021 ($1,563.4 billion).

Advanced Retail Inventories

An orange arrow pointing down

July 2021

+0.4% change in Inventories

June 2021

+0.5% change in Inventories

July 2021 end-of-month inventories were $603.2 billion, up 0.4 percent (+/- 0.2%) from last month.

Homeownership Rate

An orange arrow pointing down

2nd Qtr 2021

+65.4 percent

2nd Qtr 2020

+67.9 percent

The homeownership rate in the second quarter 2021, 65.4 percent, was lower than the rate in the second quarter 2020. The homeownership rates in the Northeast, South, and West were lower than the rates in the second quarter 2020, while the rate in the Midwest was not statistically different.

Advance Wholesale Inventories

An orange arrow pointing down

July 2021

+0.6% change in Inventories

June 2021

+1.2% change in Inventories

July end-of-month inventories were $722.5 billion, up 0.6 percent (+/- 0.4 percent) from last month.

Rental Vacancy Rate

An orange arrow pointing down

2nd Qtr 2021

+6.2 percent

2nd Qtr 2020

+5.7 percent

The rental vacancy rate in the second quarter 2021, 6.2 percent, was higher than the rate in the second quarter 2020. The rates in the Northeast and West were higher than their second quarter 2020 rates. The rates in the Midwest and South were not statistically different from the second quarter 2020 rates.

New Residential Sales

An orange arrow pointing down

July 2021

+1.0% change

June 2021

-2.6% change

Sales of new single-family houses in July 2021 were at a seasonally adjusted annual rate of 708,000. This is 1.0 percent (+/- 11.3%)* above the revised June 2021 estimate of 701,000.

New Residential Construction

An orange arrow pointing down

July 2021

-7.0% change

June 2021

+3.5% change

Privately-owned housing starts in July 2021 were at a seasonally adjusted annual rate of 1,534,000. This is 7.0 percent (+/- 8.9%)* below the revised June 2021 estimate of 1,650,000.

TRUiC's Most Searched New Business Ideas

Here are the most popular business ideas being researched for on our sites, so you can see what’s on people’s minds.

TRUiC’s Most Popular Business Video

Here are the most searched for business topics on TRUiC youtube