Welcome to the City of Albuquerque

42.2 Contribution of Small Business

This indicator measures the contribution of establishments of various sizes to the total economies of the Albuquerque Metropolitan Statistical Area (MSA) and six other peer MSAs.

This indicator is part of Businesses develop & prosper.

Indicator description:

This indicator measures the contribution of establishments of various sizes to the total economies of the Albuquerque Metropolitan Statistical Area (MSA) and six other regional Southwest MSAs. Data are shown for the percentages of establishments, employees, and annual payroll in thousands of dollars. An establishment is a single location at which business is conducted or services or industrial operations are performed. It is not necessarily the same as a firm, company, or enterprise, which may consist of one or more establishments.

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Why is this indicator relevant?

Small businesses add flexibility, adaptability, and agility to the economy. Nationally, they create 70% of the new jobs and represent more than half of the U.S. non-farm private Gross Domestic Product.

Data Sources:

US Department of Commerce, Bureau of Census, Statistics of US Businesses.

What can we tell from the data?

  • Albuquerque is slightly more dependent on small business than peer Southwest cities with the exceptions of Colorado Springs and El Paso..

 

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