Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $2,940.00 million dollars in grants, and additional local government funds of $2,566.00 million dollars annually into the business sector because small businesses and large corporations are the backbone of Montana’s economic growth. The state of Montana has 31,670 businesses, and they are broken down into the following:
Montana Business Sector Breakdown by Size
- 20,187 registered businesses in Montana have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 5,157 registered businesses in Montana have 5 to 9 employees.
- 2,976 registered businesses in Montana have 10-19 employees.
- 2,077 registered businesses in Montana have 20-99 employees.
- 485 registered businesses in Montana have 100 to 499 employees.
- Over 788 registered businesses in Montana have over 500 employees.
Montana Business Sector Breakdown in Service Industries
- 3,545 registered businesses in Montana are in the Professional, Scientific and Technical Services sector.
- 1,699 registered businesses in Montana are part of the Administrative, Support, Waste Management, and Remediation Services sector.
- 3,349 registered businesses in Montana belong in the Accommodation and Food Services sector.
- More than 3,074 registered businesses in Montana 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 Montana has more than 30,000 farms.
Small Businesses in Montana
It is difficult to start and manage a business in Montana. In the state of Montana, more than $10,654,179,000.00 US dollars is spent on employee salaries/payroll, and every year, more than 3,127 businesses file for bankruptcy. While the federal government doesn’t provide grants for expanding or starting a business publicly, there are small business grants available to business owners in Montana who want to grow their businesses. 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 Montana financial aid agencies to apply for Montana business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: