Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $22,382.00 million dollars annually in grants and local funding sources of $15.200.00 million dollars. This is because small and large businesses are the backbone of Massachusetts’ economic growth. Massachusetts has 138,370 businesses. They are broken down into the following:
Massachusetts Business Sector Breakdown by Size:
- 80,635 businesses in Massachusetts have between 0 and 4 employees. This breakdown includes those who work from home as sole proprietors.
- 23,739 businesses in Massachusetts have between 5 and 9 employees.
- 15,012 businesses in Massachusetts have between 10 and 19 employees.
- 12,615 businesses in Massachusetts have between 20 and 99 employees.
- 3,403 businesses in Massachusetts have between 100 and 499 employees.
- Over 2,966 businesses in Massachusetts have over 500 employees.
Massachusetts Business Sector Breakdown in Service Industries:
- The Professional, Scientific and Technical Services sector have 21,721 Massachusetts Businesses under its registry
- The Administrative, Support, Waste Management, and Remediation Services sector have 9,845 Massachusetts Businesses under its registry
- The Accommodation and Food Services sector have 16,062 Massachusetts Businesses under its registry
- Massachusetts has more than 16,550 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. Massachusetts has more than 8,000 farms.
Small Businesses in Massachusetts
It is difficult to start and manage a small business in Massachusetts. In Massachusetts, more than $153,775,000,000.00 US Dollars are spent on employee salaries/payroll. Every year, more than 22942 businesses file for bankruptcy. The federal government doesn’t provide grants to entrepreneurs for expanding or starting a business. However, small business grants can be granted in Massachusetts to help business owners start or grow their businesses. Grant recipients don’t have to repay the government funding. It is worth looking into small business grants to help fund your business.
Contact us to apply for Massachusetts business grants Massachusetts financial aid agencies.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: