Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $9,249.00 million dollars in grants and additional funding sources of $6,863.00 million dollars from the local government into the business sector since small businesses and large corporations are the backbone of economic growth in South Carolina. The state has 80,107 businesses, and they are broken down into the following:
South Carolina Business Sector Breakdown by Size
- 45,732 registered businesses in South Carolina have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 14,448 registered businesses in South Carolina have 5 to 9 employees.
- 8,504 registered businesses in South Carolina have 10-19 employees.
- 7,204 registered businesses in South Carolina have 20-99 employees.
- 1,893 registered businesses in South Carolina have 100 to 499 employees.
- Over 2,326 registered businesses in South Carolina have over 500 employees.
South Carolina Business Sector Breakdown in Service Industries
- 9,732 registered businesses in South Carolina are in the Professional, Scientific and Technical Services sector.
- 5,642 registered businesses in South Carolina are part of the Administrative, Support, Waste Management, and Remediation Services sector.
- 9,372 registered businesses in South Carolina belong in the Accommodation and Food Services sector.
- More than 11,208 registered businesses in South Carolina are also service orientated businesses, but are not included 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 South Carolina has more than 26,000 farms.
Small Businesses in South Carolina
It is difficult to start and manage a small business here. In South Carolina, $51,720.724,000.00 US dollars is spent on employee salaries/payroll. Every year, more than 95657 businesses file for bankruptcy. The federal government doesn’t provide grants publicly for expanding or starting a business. However, some small business grants can be given in South Carolina to help business owners 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 South Carolina financial aid agencies to apply for South Carolina business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: