Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates more than $10,008.00 million dollars and an additional local government fund of $7,610.00 million dollars into the business sector annually since small businesses and large corporations are the backbone of economic growth in Alabama. The state of Alabama has 77,035 businesses establishments, they are broken down into the following:
Alabama Business Sector Breakdown by Size
- 42,158 registered businesses in Alabama have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 14,544 registered businesses in Alabama have 5 to 9 employees.
- 8,694 registered businesses in Alabama have 10-19 employees.
- 7,381 registered businesses in Alabama have 20-99 employees.
- 1,909 registered businesses in Alabama have 100 to 499 employees.
- Over 2,349 registered businesses in Alabama have over 500 employees.
Alabama Business Sector Breakdown in Service Industries
- 9,425 registered businesses in Alabama belong in the Professional, Scientific and Technical Services sector.
- 4,213 registered businesses in Alabama are part of the Administrative, Support, Waste Management, and Remediation Services sector.
- 8,080 registered businesses in Alabama are in the Accommodation and Food Services sector.
- More than 11,268 registered businesses in Alabama are also service orientated businesses, but they are not included in the categories above.
You may also be eligible to apply for grants for small businesses if you work in the agriculture industry. The state of Alabama has more than 49,000 farms. The agriculture grants will likely be similar to the Alaska small business grants as that is also an agriculture state.
Small Businesses in Alabama
It is difficult to start and manage a small business in Alabama. This state spends more than $56,972,095,000.00 US dollars on employee salaries/payroll, and every year, 34,932 companies go bankrupt. The federal government does not provide grants to entrepreneurs for expanding or starting a business publicly. However, small business grants can be made available in Alabama to help business owners start and grow their ventures. Additionally, grant recipients don’t have to repay the government funding. Therefore, it is worth your time to look into small business grants to help fund your business.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: