Consider your favourite native bakery, jewellery store, restaurant, flower store and even your dentist’s workplace. More than likely, these are all small companies! Arizona’s small companies make a big effect on the economic system and are on the coronary heart of what makes our state distinctive.
“There are such a lot of alternatives for small enterprise right here in Arizona,” mentioned Kristi DeWitt, director of small enterprise gross sales and repair at Delta Dental of Arizona. “I believe that’s why they’ve continued to thrive. It’s the land of alternative.”
What Does Arizona Think about a Small Enterprise?
The Arizona Division of Income defines a small enterprise as having a minimum of two full-time equal staff who’re Arizona residents and whose sole duties are usually not administrative. These companies should have a few of their operations at a bodily location in Arizona and are sometimes 500 staff or much less.
Surprising Arizona Small Enterprise Statistics
- Arizona is a small enterprise state. In 2022, there have been 641,025 small companies in Arizona. That represents 99.5% of all companies within the state!
- Roughly 1.1 million Arizonans are employed by small companies. They characterize 42.5% of all staff within the state.
- A document of 10 million small companies have opened in Arizona within the final two years, based on AZ Enterprise Journal.
What Makes Arizona a Good State for Small Enterprise?
Arizona is among the greatest states to start out a small enterprise, Forbes studies. Working prices are decrease than most states, making it simpler to start out and run a enterprise. Small companies additionally deliver many profession alternatives to the state, which helps hold the unemployment fee low. Arizona noticed a historic unemployment fee of three.2% final 12 months and small companies performed an enormous half in conserving that proportion keep low.
Small companies have had a significant influence on the state’s financial progress. Arizona’s economic system remained sturdy by means of the pandemic and continues to develop with the nation, reaching a 2.5% progress fee in 2022. Small companies discovered to adapt and began working smarter, studying new methods to greatest serve their clients and constructing on distinctive enterprise concepts.
How Can I Help Small Companies?
There are limitless methods to assist small companies! Begin by trying round your neighborhood and go to a neighborhood florist for flower preparations, discover an Arizona-based vineyard for a enjoyable date evening, rent a pal’s catering enterprise on your subsequent firm lunch, donate to a nonprofit that makes a distinction in your neighborhood, or schedule your subsequent enamel cleansing along with your neighborhood dentist workplace.
How Does Delta Dental of Arizona Help Small Companies?
Recognizing the significance of small companies to Arizona’s economic system, Delta Dental of Arizona launched our small enterprise unit in 2016. This group is devoted to understanding and assembly the advantages wants of Arizona’s small companies. One discovery they’ve had? Many small enterprise homeowners are not sure what to search for when selecting a dental insurance coverage plan. With sources like 5 Ideas for Selecting a Dental Advantages Plan for Small Companies and Selecting the Proper Dental Plan for Workers, Delta Dental of Arizona makes discovering the suitable dental plan on your small enterprise simple.
We’ve additionally created reasonably priced dental insurance policy and imaginative and prescient insurance policy designed to satisfy the wants of small enterprise homeowners. For instance, versatile funding preparations enable small enterprise homeowners to contribute as a lot—or as little—as they wish to their staff’ dental and imaginative and prescient care. Voluntary dental and imaginative and prescient plans enable even probably the most budget-conscious small companies to supply advantages.
“There may be such a plethora of companies right here in Arizona,” mentioned DeWitt. “Right here at Delta Dental of Arizona, we’re fortunate to work intently with superb ones. We’re dedicated to providing massive advantages to small companies.”