Wyoming ranks as America's most sparsely populated state, yet its 81,924 small businesses drive the economy in powerful ways. These firms employ 135,636 workers and represent 98.9% of all businesses in the state. Whether you're thinking about starting a small business in Wyoming or looking to buy an existing one, here's what the data reveals.

How Many Small Businesses Are in Wyoming?

Wyoming's small business landscape continues to expand despite its small population. The state's favorable tax environment and minimal regulatory burden attract entrepreneurs from across the country.

81,924 small businesses operate in Wyoming as of 2025, representing 98.9% of all enterprises in the state.
Small businesses employ 135,636 workers, accounting for 65.2% of all state employment.
Wyoming hosts approximately 84,022 total business entities, including 18,249 employer firms and 65,773 nonemployer establishments.
In September 2025 alone, the state registered 17,756 new business formations, a 29% year-over-year increase.
Self-employed individuals running incorporated businesses earn a median income of $60,000 annually. Those with unincorporated businesses earn a median of $23,000.
Out of a population of 37,000 minorities, 3,364 are self-employed.
The first-year business survival rate in Wyoming is 76%, slightly below the national average of 77%.

Starting a Small Business in Wyoming

Starting a small business in Wyoming requires registering with the Wyoming Secretary of State. The process remains straightforward, and formation costs rank among the lowest nationwide. You can start a Wyoming LLC with minimal paperwork and no state income tax obligations.

LLC filing fee costs $100, among the lowest in the nation.
Annual license tax starts at $60 minimum for businesses with limited assets.
Wyoming imposes no corporate income tax and no personal income tax.
There is no inheritance tax on estates passed to family members.
The state does not charge excise tax on food commodities and gas.
Registered agent services typically cost between $49 and $199 annually through providers like Wyoming registered agent services.
Wyoming processed over 17,000 new business name registrations monthly throughout 2025.
Online filings typically complete within 1-5 business days.

Wyoming Small Business License Requirements

Wyoming does not require a general state-level business license to operate. This streamlined approach benefits entrepreneurs who want to launch quickly without excessive red tape.

No general state business license is required for most businesses.
Specific industries need permits, including agriculture (restaurants, dairies, bakeries), consumer credit (mortgage lenders, pawn shops), and transportation.
Wildlife-related businesses and environmental protection operations require state permits.
Most service-based, consulting, and online businesses operate without state-level licensing.
Wyoming state law requires every LLC to designate a Wyoming registered agent available during regular business hours at a physical address within the state.

Registering Wyoming Business Names

When choosing Wyoming business names, entrepreneurs must verify availability through the Secretary of State's database. You can check name availability before filing your formation documents.

Business names must be distinguishable from existing entities and include appropriate designators (LLC, Inc., etc.).
The state allows 120-day name reservations before filing Articles of Organization.
Name searches and registrations process through the Wyoming Secretary of State's online portal.
Professional Wyoming LLC formation services can handle name verification and filing on your behalf.

How to Buy a Wyoming Small Business

If you're looking to buy a Wyoming small business, you'll find opportunities across manufacturing, retail, hospitality, and professional services. The state's business-friendly environment makes acquisitions particularly attractive compared to high-tax states.

Wyoming's zero state income tax improves acquisition economics significantly.
The state registered 17,756 new business formations in September 2025, indicating robust market activity and ongoing business transitions.
Minimal regulatory burden reduces due diligence complexity for buyers.
The Wyoming Business Council offers succession financing programs for business acquisitions.
50/50 Loans through the Wyoming Business Council provide up to $2.5 million for qualified transactions.
Favorable employment laws and minimal red tape enable efficient post-acquisition scaling.

Number of Employers in Wyoming 2026

Understanding employer counts helps contextualize Wyoming's economic footprint. Small businesses make up the overwhelming majority of employers statewide.

Wyoming has 18,249 employer firms combined with 65,773 nonemployer establishments.
Small businesses with fewer than 500 employees represent the vast majority of employers.
In 2025, small businesses created thousands of new jobs, continuing the trend from previous years where they generated 5,762 new positions in a single year.
About 3,133 jobs were created by businesses with fewer than 20 employees.

Wyoming's Largest Employers

Wyoming's largest employers span retail, energy, education, and manufacturing sectors. These companies create the economic foundation supporting small business growth.

Walmart employs approximately 5,000 workers across Wyoming locations.
University of Wyoming maintains a workforce of about 4,500 employees.
Sheridan College employs roughly 3,000 workers.
Genesis Alkali operates with approximately 1,000 employees.
Sinclair Wyoming Refining and TATA Chemicals Soda Ash Partners each employ around 500 workers.
Admiral Beverage Corp. and HollyFrontier LLC each maintain workforces of approximately 300 employees.

Top Industries in Wyoming

Wyoming's top industries reflect the state's natural resources, tourism assets, and growing service sector. Understanding industry breakdown helps entrepreneurs identify opportunities.

Government and Education represents 23% of employment.
Leisure and Hospitality accounts for 13% of jobs.
Mining and Construction also represents 13% of employment.
Retail Trade employs 11% of the workforce.
Professional and Business Services make up 8-10% of employment.
Healthcare also represents 8-10% of jobs.
Manufacturing accounts for 5% of employment.
Transportation and Utilities represent 5-7% of the workforce.
The construction sector is growing fastest at 2.1% annually.
E-commerce sales tax revenue grew 12.2% in FY2025.

The real estate, rental, and leasing sectors have the largest share of small enterprises with 9,141 businesses operating in these industries. The utilities sector is the smallest with only 88 small firms.

Wyoming Tax Rates for Small Business

Wyoming consistently ranks among the most tax-friendly states for business owners. The state's approach to taxation creates significant advantages for entrepreneurs. Learn more about Wyoming LLC formation costs to understand your total investment.

Wyoming imposes no corporate income tax.
There is no personal income tax for business owners.
The state charges no inheritance tax on estates.
No excise tax applies to food commodities and gas.
With the exception of South Dakota, Wyoming is possibly the most tax-friendly state in the nation.
The license tax on business assets is $50 or two-tenths of one million per dollar of assets ($.0002), whichever is greater.
This license tax applies to corporations, LLCs, and limited partnerships.
Unemployment tax rates for employers are set by the Wyoming Department of Workforce Services.

Wyoming Tourism Statistics

Wyoming tourism statistics reveal a massive economic driver that creates opportunities for small businesses in hospitality, recreation, and retail. The state's natural attractions draw millions of visitors annually.

Wyoming's tourism industry generated $4.9 billion in visitor spending in 2024.
Tourism supports 33,610 jobs statewide.
The industry produces $278 million in tax receipts annually.
The state welcomed 8.8 million overnight visitors.
National parks drew 8.1 million visitors who spent $1.2 billion.
National park tourism generates $1.5 billion in cumulative economic effects.
International visitors represent 10% of tourism revenue but spend more and stay longer.
Small businesses in the accommodation and food services sectors account for 82% of the private workforce with 22,778 employees.

PEO Services in Wyoming

Small businesses seeking HR support can partner with a PEO in Wyoming. Professional Employer Organizations help business owners manage payroll, benefits, and compliance efficiently.

PEOs provide comprehensive HR, payroll, benefits, and compliance services.
Services include payroll processing, tax compliance, and employee benefits administration.
Workers' compensation management simplifies risk for small business owners.
The Wyoming Department of Workforce Services can refer entrepreneurs to local PEO providers.
Wyoming's favorable employment laws enable efficient scaling through PEO partnerships.
PEOs help small businesses compete with larger companies for talent acquisition.

Wyoming Small Business Exports

Wyoming small businesses contribute significantly to international trade despite the state's small population. Export data reveals opportunities in global markets.

A total of 447 small businesses exported goods valued at $642 million in 2023.
Small exporters represent 81.6% of all exporting firms in Wyoming.
Small business exports account for 30.8% of Wyoming's total $2.1 billion in exports.
Major export categories include minerals, chemicals, and agricultural products.

Small Business Financing in Wyoming

Access to capital enables Wyoming entrepreneurs to start and grow their businesses. SBA loans and state programs provide multiple funding options.

Wyoming small businesses accessed $441.3 million in SBA 7(a) loans over the past decade, totaling 976 loans.
In fiscal 2023, reporting banks issued $237.1 million to Wyoming businesses with revenues under $1 million.
Total bank lending to small businesses reached $605.3 million.
The Wyoming Business Council offers 50/50 Loans up to $2.5 million.
Succession financing programs help buyers acquire existing businesses.
SBA disaster relief remains available for businesses affected by drought and other emergencies.

E-Commerce Growth in Wyoming

Wyoming online business growth has accelerated as entrepreneurs leverage the state's tax advantages for digital operations.

E-commerce sales tax revenue grew 12.2% in FY2025.
Online sales now account for 8.6% of total state sales tax collections.
Wyoming's no-income-tax environment attracts digital entrepreneurs.
The state's minimal regulatory requirements benefit online businesses.
E-commerce represents one of Wyoming's fastest-growing business sectors.

How Many Small Businesses Are in Wyoming?

Starting a Small Business in Wyoming

Wyoming Small Business License Requirements

Registering Wyoming Business Names

How to Buy a Wyoming Small Business

Number of Employers in Wyoming 2026

Wyoming's Largest Employers

Top Industries in Wyoming

Wyoming Tax Rates for Small Business

Wyoming Tourism Statistics

PEO Services in Wyoming

Wyoming Small Business Exports

Small Business Financing in Wyoming

E-Commerce Growth in Wyoming

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