Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $2,162.00 million dollars in grants and additional $1,671.00 million dollars of local government funding annually into the business sector since small businesses and large corporations make up the backbone of Vermont’s economic growth. The state of Vermont has 18,695 businesses, and they are broken down into the following:
Vermont Business Sector Breakdown by Size:
- 11,224 registered businesses in Vermont have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 3,087 registered businesses in Vermont have 5 to 9 employees.
- 1,901 registered businesses in Vermont have 10-19 employees.
- 1,450 registered businesses in Vermont have 20-99 employees.
- 358 registered businesses in Vermont have 100 to 499 employees.
- Over 675 registered businesses in Vermont have over 500 employees.
Vermont Business Sector Breakdown in Service Industries:
- 2,149 registered businesses in Vermont are in the Professional, Scientific and Technical Services sector.
- 1,081 registered businesses in Vermont are part of the Administrative, Support, Waste Management, and Remediation Services sector.
- 1,943 registered businesses in Vermont belong in the Accommodation and Food Services sector.
- More than 2,059 registered businesses in Vermont 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 Vermont has more than 7,000 farms.
Small Businesses in Vermont
It is difficult to start and manage a small business in Vermont. More than $9,085,060,000.00 US dollars is spent on employee salaries/payroll alone in the state, and every year, over 1,697 companies declare bankruptcy. The federal government doesn’t provide grants publicly for expanding or starting a business. However, some small business grants can be given in Vermont 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 Vermont financial aid agencies to apply for grants for businesses.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: