South Carolina’s Small Business Sector Thrives, Fueling Job Growth

South Carolina’s small business community is experiencing robust growth, according to recent data released by the U.S. Small Business Administration (SBA). The latest figures highlight a significant expansion in the number of small businesses and their substantial contribution to job creation across the state.

The SBA’s “South Carolina 2025” profile reveals that between March 2023 and March 2024, the state saw a net increase of 3,114 establishments, with small businesses accounting for the vast majority of these new openings. During this period, South Carolina’s economy gained a net increase of 35,780 jobs, with small businesses contributing a remarkable 70.9 percent of that total, adding 25,358 net new jobs.

Small businesses are defined by the SBA as firms with fewer than 500 employees. In South Carolina, these enterprises represent an overwhelming 99.4 percent of all businesses in the state. Collectively, they employ over 863,000 residents, accounting for nearly 43 percent of the state’s total workforce. This strong performance underscores the critical role small businesses play as the backbone of South Carolina’s economy, driving innovation, providing essential services, and creating local opportunities.

The growth is supported by various factors, including a proactive environment for entrepreneurship and access to resources. The SBA maintains a strong presence in South Carolina, offering funding programs, counseling, federal contracting certifications, and disaster recovery assistance. Local entities like the SC Small Business Development Centers (SCSBDC) also provide free consulting, seminars, and specialized programs to help new ventures start and existing ones thrive.

This positive trend in South Carolina’s small business landscape points to a dynamic economy with increasing opportunities for residents and a resilient entrepreneurial spirit driving the state’s economic diversification and prosperity.