Mainebiz

W W W. M A I N E B I Z . B I Z 17 J U N E 1 2 , 2 0 1 7 F O C U S S M A L L B U S I N E S S 96.8% Maine businesses with under 20 employees (141,448 busineses) " " " " Colors Pantone 2747 Pantone 1807 IT Solutions Designed for Your Business Finding the right IT partner is one of the most important decisions your company can make. At WGTECH, making information technology work for your business is our core competency. We develop individualized solutions that help you grow your business, improve operations, and boost efficiency. We're Northern New England's resource for advanced technology – we'd like to partner with you. www.WGTECH.com 207.856.5300 Build a Better Technology Environment mall businesses make up the lion's share of businesses in Maine. Small business operation is very much part of the Maine spirit of independence. But small businesses are also signifi cant employers in a state with just 1.3 million people, as the charts below indicate. S TA R T I N G O N F O L L OW I N G PA G E » S Construction Retail Other services Accommodation and food services Professional, scientifi c and technical services Health care and social assistance Administrative, support and waste management Real estate, rental and leasing Manufacturing Wholesale trade 4,457 3,810 3,265 2,995 2,971 2,550 1,620 1,332 1,143 974 AVERAGE WEEKLY WAGES MAINE SMALL FIRMS BY INDUSTRY (1 TO 19 EMPLOYEES) SMALL BUSINESS A WAY OF LIFE How Maine's wages stack up C umberland County, the only county in Maine with annual average employment of 75,000 or more, had an average weekly wage of $937 in the third quarter of 2016, ranking 179 th among 242 large U.S. counties. Santa Clara, Calif., had the highest, with $2,260, while Horry, S.C., had the lowest, at $632. All 15 counties in Maine with employment below 75,000 had average weekly wages lower than the national average of $1,027. Sagadahoc reported the high- est average weekly wage of the small counties, at $899. Piscataquis, at $620, and Lincoln, at $654, reported the lowest weekly wages. S O U R C E : Bureau of Labor Statistics S O U R C E : Small Business Administration, Bureau of Employment Dynamics Cumberland County Highest in Maine $937 Santa Clara, Calif. Highest of U.S. large counties $2,260 Horry, S.C. Lowest of U.S. large counties $632 Sagadahoc County Highest of Maine's small counties $899 Piscataquis County Lowest of Maine's small counties $620 U.S. national average $1,027 S O U R C E : Forbes National retailers vs. local retailers How does the community benefi t? National retailers provide: ¡ Greater number of shoppers ¡ Employment ¡ Large product assortment ¡ Deeper discounts, greater promotions ¡ Big marketing campaigns that draw more shoppers Small retailers offer: ¡ One-of-a-kind products and services ¡ Character to local communities ¡ Money fi ltered directly from buyers to local economies ¡ Personal service ¡ Access to owner-operators 57.3% Maine's private workforce employed by a small business (278,996 employees) CHURN IS A CHALLENGE Startups generated 2,587 new jobs, while exits eliminated 2,477 jobs in Q2 2014 INCREASE: 110 jobs 957 businesses started up, while 890 exited in Q2 2014 INCREASE: 67 businesses

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