The U.S. Cities with the Highest Percentages of Growing Businesses
It’s National Small Business Week, a time to raise a glass to the small businesses that make up the backbone of our communities. This year, there is even more to celebrate. According to the National Small Business Association (NSBA) 2015 economic report, nearly half of small business owners anticipate growth in their business throughout the next six months. What’s more, nearly 75 percent of those surveyed said they were confident in the future of their business — the highest recorded percentage in the last four years.
Square recently looked at the top 20 U.S. cities with the highest percentage of growing businesses. The top five cities include: Chico, California; Salem, Oregon; Reno, Nevada; Grand Rapids, Michigan; and Chattanooga, Tennessee.
On average, 66 percent of Square sellers in Chico saw an increase in dollars processed in the past year, while 65 percent of Square sellers in Salem also saw an increase. The chart below shows the top 20 cities with the most growing businesses using Square.
We also took a look at the types of small businesses that are growing in each of these cities. Professional services such as lawyers and accountants are seeing the highest growth percentages in Chattanooga and Chico, while restaurants and contractors are seeing the most growth in Grand Rapids and Salem, respectively.
Senator Gary Peters, chair of the Senate Payments Innovation Caucus told us, “I’m proud Grand Rapids, Michigan is being recognized as one of the best communities to start and grow a business. Michigan is home to a vibrant small business and startup community that is taking advantage of innovations in payments technology like Square to reach more customers, provide convenient services, and expand their operations around the globe.”
From affordable hardware and our powerful point of sale to financial and marketing services like Square Capital and Customer Engagement, we provide sellers across the country with the tools they need to run and grow their businesses. Happy National Small Business Week to you all.