Last Updated on August 23, 2023 by Hannah Stevens
The federal government spends more than $3,099.00million dollars annually in grants and local funding sources of $2.458.00million dollars. This is because small and large businesses are the backbone of economic growth in Idaho. The state of Idaho has 37,482 businesses. They are broken down into the following:
Idaho Business Sector Breakdown by Size:
- 23,115 businesses in Idaho have between 0 and 4 employees. This breakdown includes those who work from home as sole proprietors.
- 6,120 businesses in Idaho have between 5 and 9 employees.
- 3,602 businesses in Idaho have between 10 and 19 employees.
- 2,769 businesses in Idaho have between 20 and 99 employees.
- 713 businesses in Idaho have between 100 and 499 employees.
- Over 1,163 businesses in Idaho have over 500 employees.
Idaho Business Sector Breakdown in Service Industries:
- 4,243 registered businesses in Idaho are in the Professional, Scientific and Technical Services sector.
- 2,221 registered businesses in Idaho are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 3,507 registered businesses in Idaho are in the Accommodation and Food Services sector.
- More than 3,330 registered businesses in Idaho are also service orientated businesses but are not categorized to the above sectors.
You may also be eligible for grants for small businesses if you work in the agriculture industry. Idaho has more than 25,000 farms.
Small Businesses in Idaho
It is difficult to start and manage a small business here in Idaho. In Idaho, more than $16,328.394,000.00 US dollars is spent on employee salaries/payroll. Every year, over 8,293 companies declare bankruptcy. While the federal government doesn’t provide grants to expand or start a business, small business grants can be made available in Idaho to help business owners grow and start their ventures. Grant recipients don’t have to repay the money. It is worth looking into small business grants to help fund your business.
Contact Idaho financial assistance agencies to apply for Idaho business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: