Younger businesses and startups are often key to fueling future economic growth, so considering the age of employers can provide valuable insight into a local economy.
A Governing analysis of data released Thursday by the U.S. Census Bureau depicts sizable variation in the presence of employers that have been operating for no more than three years. In the largest metro areas, younger companies make up anywhere from 15 percent to 30 percent of employers. Nationally, they account for about 22 percent of businesses with paid employees.
The census estimates were published as part of the new Annual Survey of Entrepreneurs, which covers data collected in 2014 for states and the top 50 metro areas.
GOVERNING.COM
BY MIKE MACIAG | SEPTEMBER 1, 2016