Starting a business? Let data guide your industry choice. Our analysis of the U.S. Census Bureau’s Annual Business Survey reveals compelling insights about where new businesses thrive financially.
🚀 Revenue Leaders: Top Industries for New Firms
Young businesses (under 2 years) in our top-performing industries average $1,263 in annual receipts. The standout sectors:
💼 Employment and Payroll Insights
New firms in these industries average 4.3 employees and $247 in annual payroll per firm. This data suggests optimal staffing levels for startups:
📈 Revenue Growth Trajectory
See how revenues typically evolve as businesses mature:
Key Takeaways
- Industry Selection: The data shows Utilities and Wholesale Trade leading in early-stage revenue.
- Growth Pattern: Most industries see significant revenue increases between years 2-5.
- Resource Planning: Successful young firms maintain an efficient ratio of revenue to employees.
Ready to launch? Register with Business Initiative for industry-specific guidance and support.
Source: U.S. Census Bureau Annual Business Survey (ABS) 2022
Follow us @BisInitiative for more business insights
