Last Updated on August 7, 2022 by Danielle McDonald
The federal government spends more than $11,744.00million dollars in grants, and an additional local government funds of $9,304.00million dollars into the business sector because small businesses and large corporations are the backbone of Minnesota’s economic growth. The state of Minnesota has 118,744 businesses, and they are broken down into the following:
Minnesota Business Sector Breakdown by Size:
- 71,129 registered businesses in Minnesota have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 18,565 registered businesses in Minnesota have 5 to 9 employees.
- 12,549 registered businesses in Minnesota have 10-19 employees.
- 11,170 registered businesses in Minnesota have 20-99 employees.
- 2,797 registered businesses in Minnesota have 100 to 499 employees.
- Over 2,534 registered businesses in Minnesota have over 500 employees.
Minnesota Business Sector Breakdown in Service Industries:
- 16,554 registered businesses in Minnesota are part of the Professional, Scientific and Technical Services sector.
- 7,199 registered businesses in Minnesota are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 11,183 registered businesses in Minnesota belong in the Accommodation and Food Services sector.
- More than 15,338 registered businesses in Minnesota are also service orientated businesses, but do not belong 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 Minnesota has more than 81,000 farms.
Small Businesses in Minnesota
It is difficult to start and manage a small business in Minnesota. The state spends more than $102,179,000,000.00 US dollars on employee salaries and payroll, and every year, more than 22,575 businesses declare bankruptcy. The federal government does not provide grants for expanding or starting a business publicly. However, small business grants are granted in Minnesota to help business owners start or grow their ventures. Moreover, grant recipients don’t have to repay the government funding. So, it is worth looking into small business grants to help fund your business.
Contact Minnesota financial assistance agencies to apply for Minnesota business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: