Last Updated on August 23, 2023 by Hannah Stevens
The federal government spends more than $8,829.00 millions dollars annually in grants and other funding sources from local governments. This is because small and large businesses are the backbone of Connecticut’s economic growth. Connecticut has 73,515 businesses. They are broken down into the following:
Connecticut Business Sector Breakdown by Size:
- 41,737 businesses in Arizona have between 0 and 4 employees. This breakdown includes those who work from home as sole proprietors.
- 13,006 businesses in Connecticut have between 5 and 9 employees.
- 8,036 businesses in Connecticut have between 10 and 19 employees.
- 6,794 businesses in Connecticut have between 20 and 99 employees.
- 1,873 businesses in Connecticut have between 100 and 499 employees.
- Over 2,069 businesses in Connecticut have over 500 employees.
Connecticut Business Sector Breakdown in Service Industries:
- The Professional, Scientific and Technical Services sector have 9,806 Connecticut Businesses under its registry
- The Administrative, Support, Waste Management, and Remediation Services sector have 5,494 Connecticut Businesses under its registry
- The Accommodation and Food Services sector have 7,930 Connecticut Businesses under its registry
- Connecticut has more than 9,318 registered companies. They are service-oriented businesses that are not yet included in the above categories.
You may also be eligible for grants for small businesses if you work in the agriculture industry. Connecticut has more than 5,000 farms.
Small Businesses in Connecticut
It is difficult to start and manage a small business in Connecticut. In Connecticut, more than $78,026,725,000.00 US dollars is spent on employee salaries/payroll. Every year, more than 11268 businesses go bankrupt. The federal government doesn’t provide grants to entrepreneurs for expanding or starting a business. However, small business grants can be granted in Connecticut to help business owners start and grow their ventures. Grant recipients don’t have to repay the grant funding. It is worth looking into small business grants to help fund your business.
Contact Connecticut financial assistance agencies to apply for business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: