Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $8,554.00 million dollars in grants and additional funding sources of $7,828.00 million dollars from the local government into the business sector because small businesses and large corporations are the backbone of Oklahoma’s economic growth. The state of Oklahoma has 72,243 businesses, and they are broken down into the following:
Oklahoma Business Sector Breakdown by Size
- 41,831 registered businesses in Oklahoma have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 12,757 registered businesses in Oklahoma have 5 to 9 employees.
- 7,619 registered businesses in Oklahoma have 10-19 employees.
- 6,467 registered businesses in Oklahoma have 20-99 employees.
- 1,582 registered businesses in Oklahoma have 100 to 499 employees.
- Over 1,987 registered businesses in Oklahoma have over 500 employees.
Oklahoma Business Sector Breakdown in Service Industries
- 9,210 registered businesses in Oklahoma are part of the Professional, Scientific and Technical Services sector.
- 4,388 registered businesses in Oklahoma are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 6,988 registered businesses in Oklahoma belong in the Accommodation and Food Services sector.
- More than 8,945 registered businesses in Oklahoma are also service orientated businesses but are not categorized to the above sectors.
You may also be eligible to apply for grants for small businesses if you work in the agriculture industry. The state of Oklahoma has more than 87,000 farms.
Small Businesses in Oklahoma
It is difficult to start and manage a small business in Oklahoma. More than $45,238,063,000.00 US dollars is spent on employee salaries/payroll alone in this state, and every year, more than 15,129 companies declare bankruptcy. Although grants from the federal government are not available publicly for the expansion or creation of businesses, Oklahoma grants some small business grants that small business owners can use to help them start and 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 Oklahoma financial aid agencies to apply for Oklahoma business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: