Small businesses will play an important role in the economic future of NH.
"New Hampshire continues to depend on the health and ingenuity of its small business sector for the state's economic growth," said Susan Walthall, acting chief counsel for a advocacy at The Office for Advocacy in Concord. "In today's economic climate, it is especially important for policymakers to keep small business concerns in mind as they formulate policy."
According to details in a report filed by the group, small businesses have proven to be important employment generators. They created 68.1 percent of the state's net new jobs between 2005 and 2006. They accounted for 54.9 percent of NH's total private sector employment in 2006 (using the latest available data).
Nationwide, small employers numbered 6 million in 2006, and represented 99.7 percent of the nation's employers and 50.2 percent of its private sector employment.
In 2008, the U.S. saw a private sector employment decline of 0.7 percent, while employment in NH decreased by 0.4 percent. Also in 2008, U.S. real gross domestic product increased by 0.7 percent and NH's gross state product increased by 1.8 percent.
As additional small business data become available over the coming months, they will be incorporated in a new edition of the state profiles, to be issued in early 2010.
For more information and a complete copy of the state and territory small business profiles, visit the Office of Advocacy Web site at www.sba.gov/advo/research/profiles/.
