Last Updated on August 23, 2023 by Hannah Stevens
The federal government spends more than $11,366.00million dollars annually in grants and other funding sources from local governments. This is because small and large businesses are the backbone of economic growth in Kentucky. Kentucky has 69,606 businesses. They are broken down into the following:
Kentucky Business Sector Breakdown by Size:
- 38,070 businesses in Kentucky have between 0 and 4 employees. This breakdown includes those who work from home as sole proprietors.
- 12,675 businesses in Kentucky have between 5 and 9 employees.
- 7,951 businesses in Kentucky have between 10 and 19 employees.
- 6,752 businesses in Kentucky have between 20 and 99 employees.
- 1,852 businesses in Kentucky have between 100 and 499 employees.
- Over 2,306 businesses in Kentucky have over 500 employees.
Kentucky Business Sector Breakdown in Service Industries:
- The Professional, Scientific and Technical Services sector have 8,184 Kentucky Businesses under its registry
- The Administrative, Support, Waste Management, and Remediation Services sector have 4,039 Kentucky Businesses under its registry
- The Accommodation and Food Services sector have 7,366 Kentucky Businesses under its registry
- Kentucky has more than 9,617 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. Kentucky has more than 85,000 farms.
Small Businesses in Kentucky
It is difficult to start and manage a small business here in Kentucky. In Kentucky, $51,716,876,000.00 US dollars is spent on employee salaries and payroll. Every year, more than 262,023 companies 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 Kentucky 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 us to apply for Kentucky business grants Kentucky financial aid agencies .
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: