{"id":20877,"date":"2021-05-01T08:08:45","date_gmt":"2021-05-01T08:08:45","guid":{"rendered":"https:\/\/boostsuite.com\/?page_id=20877"},"modified":"2023-07-02T22:10:18","modified_gmt":"2023-07-02T22:10:18","slug":"maine","status":"publish","type":"page","link":"https:\/\/boostsuite.com\/small-business-statistics\/maine\/","title":{"rendered":"15 Fascinating Maine Small Business Statistics"},"content":{"rendered":"\n
According to the Bureau of Economic Analysis (BEA), the Pine Tree State\u2019s GDP has risen by $5 billion over the last decade (2010\u20132020), from $52 billion to $57 billion. Part of this growth has been fueled by a surge in the state\u2019s industrial output, which includes products such as paper, lumber and wood, electronic equipment, leather products, food products, textiles and bio-technology.\u00a0<\/p>\n\n\n\n
Naval shipbuilding is also a key part of the state economy, with companies like Portsmouth Naval Shipyard (builds submarines for the Navy) and Bath Iron Works (builds vessels for commercial and military use) investing heavily in the sector.<\/p>\n\n\n\n
However, the major backbone for Maine\u2019s economic growth is small businesses (SMBs). Entrepreneurship is as much a part of the culture as it is part of the economy. Local small firms are so ubiquitous that they make up close to 100% of all businesses in the state. Business owners cite fair regulations, access to working capital, and strong community support as some of the appealing aspects the state has to offer.<\/p>\n\n\n\n
Below are some interesting statistics on small businesses in the Pine Tree State:<\/p>\n\n\n\n