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  • Writer's pictureCole Perkins

The Big Impact of Small Businesses in Oklahoma

Updated: May 20

Oklahoma's entrepreneurial spirit is alive and well! Small businesses are a major driver of our economy, creating jobs and fostering vibrant communities across the state. Here's a glimpse into the strength of Oklahoma's small business scene by the numbers:

  • Job Creators: Did you know that over half of Oklahoma's employees work for small businesses? That's right – according to the U.S. Small Business Administration (SBA), a whopping 51.7% of the state's workforce is employed by small firms (with fewer than 500 employees) [SBA Oklahoma Economic Profile]. This contribution surpasses the national average, making small businesses crucial for Oklahoma's economic health.

  • Resilience in Action: Despite challenges, Oklahoma's small business community shows resilience. Between March 2020 and 2021, there was a net increase of 841 new businesses opening their doors [SBA Oklahoma Economic Profile]. This entrepreneurial spirit is a testament to the creativity and determination of Oklahoma's small business owners.

  • Minority and Women-Owned Businesses on the Rise: The SBA reports that women own an impressive 42.6% of Oklahoma businesses, and racial minorities account for 11.7% of ownership [SBA Oklahoma Economic Profile]. This is a positive trend, highlighting the growing diversity of Oklahoma's small business landscape.

  • Export Powerhouse:  Small businesses are not just local players – they contribute significantly to Oklahoma's exports. In 2020, a remarkable 34.5% of the state's exports, valued at $1.7 billion, came from small firms [SBA Oklahoma Economic Profile]. This showcases the global reach and impact of Oklahoma's small businesses.

These statistics paint a clear picture: Oklahoma's small businesses are a powerful force. They create jobs, drive innovation, and contribute to the state's economic well-being. So next time you're looking for a product or service, consider supporting a local small business. You'll be helping your community and strengthening Oklahoma's vibrant entrepreneurial spirit!

Let's keep Oklahoma's small businesses thriving!  Consider searching for online directories or organizations like Keep It Local OK to find amazing small businesses in your area.

Small Business Store Front

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