New Study Examines Small Business Owners by State
Ooma helps out entrepreneurs with a new study examining small business salaries in every state in America, plus Washington, D.C. The team based their analysis on data from ZipRecruiter. They added plenty of eye-opening context by comparing these salaries to the national wage average across industries, which is $66,621. Learn more
The team’s findings show impressive earning potential for small business owners. Washington state entrepreneurs had the highest earnings at $144,941 annually, which is 127.2% higher than the national average. Ooma explains that these high earnings could be attributed to Washington’s thriving tech scene, favorable business tax laws, and talented employees from corporations like Google and Amazon leaving California for Washington’s lower cost of living.
There are 15 states where business owners earn more than double the national average salary, which means they are clear locations that offer significant advantages to entrepreneurs. These spots are often tech hubs or places with favorable business taxes. The study examines challenges for business owners, too. For example, Florida has the lowest earnings on average, and the team speculates that this is due to a competitive market driven by tourism seasons. Note, however, that even though Florida has the lowest average annual wages for small business owners, it still exceeds the national wage average. It’s clear that there are many advantages to starting a small business.
Ooma’s study includes not only a striking and easy-to-digest map, but plenty of detailed data and analysis. The map and information give context to the pros and cons of small business ownership all across the country. This graphic transforms data into actionable knowledge about business. Knowledge and data are key to successful business decisions, and Ooma has certainly delivered on this.
