Issue Brief: Microbusinesses in Southwest Florida
IIn this issue brief, we expand the analysis from our previously published issue brief that examined microbusinesses in Lee County, Florida by expanding the geographical area to all of Southwest Florida (defined as the five-county area encompassing Charlotte, Collier, Glades, Hendry and Lee counties). Information in this Issue Brief was collected on July 29, 2022 from USA Reference database. The database represents a list of establishment-level records that is continuously updated to provide the most up-to-date information about businesses. US Reference provided 72,800 records containing all establishments with no more than 500 employees located in the entire region.
Main findings from the survey include:
- 61.7 percent of all establishments in Southwest Florida were considered microbusiness establishments (defined has having less than five employees).
- 15.5 percent of microbusiness establishments in Southwest Florida operated in the Other Services industry, while construction and retail trade represented the primary economic activity for 14.0 and 13.6 percent of establishments, respectively.
- 26.7 percent of microbusiness establishments were less than five years old, while 45.4 percent were between five to nine years old.
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