DATA

Data from Pew Charitable Trusts, Small and Midsized Business Report, 2020.
FACT:
Philadelphia has Low Business Density.
-
Philadelphia has the fewest small and midsize business establishments per capita than comparable cities.
-
Low business density is correlated with fewer business births, lower economic output, and higher poverty within an area.
-
This also means the city has a sparse ecosystem of businesses for:
-
Individuals to find jobs with.
-
Entrepreneurs to partner with.
-
Lenders and investors to help grow.
-
City agencies and schools to rely on for tax revenue.
-

Data from Pew Charitable Trusts, Small and Midsized Business Report, 2020.
FACT:
Philadelphia has Fewer Business “Births”.
Comparison city's business births exceeded deaths by nearly double the Philadelphia margin.
-
Also, from 2006 to 2016, net job growth at new establishments was about half the rate elsewhere, an average 0.8% per year.
-
New establishments lagged existing establishments of any size in creating jobs.
-
Less than a tenth of 1% of all small establishments had moved into the city from somewhere else.

Data from Pew Charitable Trusts, Small and Midsized Business Report, 2020.
FACT:
Philadelphia has Fewer "Traded" businesses (Large Employers)
"Traded” companies are those that sell to a National or global market, rather than solely a local market.
-
These companies generally hire in large numbers and offer better pay.
-
Only 19% of Philadelphia companies are in the traded category.