Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $2,612.00 million dollars in grants and local government funds of $1,986.00 million dollars into the business sector since small businesses and large corporations are the backbone of New Hampshire’s economic growth. The state of New Hampshire has 31,371 businesses, and they are broken down into the following:
New Hampshire Business Sector Breakdown by Size
- 17,766 registered businesses in New Hampshire have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 5,464 registered businesses in New Hampshire have 5 to 9 employees.
- 3,301 registered businesses in New Hampshire have 10-19 employees.
- 2,887 registered businesses in New Hampshire have 20-99 employees.
- 766 registered businesses in New Hampshire have 100 to 499 employees.
- Over 1,187 registered businesses in New Hampshire have over 500 employees.
New Hampshire Business Sector Breakdown in Service Industries
- 3,992 registered businesses in New Hampshire are in the Professional, Scientific and Technical Services sector.
- 2,252 registered businesses in New Hampshire belong in the Administrative, Support, Waste Management, and Remediation Services sector.
- 3,508 registered businesses in New Hampshire are part of the Accommodation and Food Services sector.
- More than 3,599 registered businesses in New Hampshire 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 New Hampshire has more than 4,000 farms.
Small Businesses in New Hampshire
It is difficult to start and manage a small business in this state. In New Hampshire, more than $23,628,247,000.00 US dollars is spent on employee salaries/payroll alone, and every year, over 5,674 companies declare bankruptcy. The federal government doesn’t provide grants for expanding or starting a business publicly. However, some small business grants are available in New Hampshire to help business owners start and 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 New Hampshire financial aid agencies to apply for business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: