DATA

Biz Density Pic.png

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.

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  • 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.

Biz Births Pic.png

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.​

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  • Also, from 2006 to 2016, net job growth at new establishments was about half the rate elsewhere, an average 0.8% per year.

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  • New establishments lagged existing establishments of any size in creating jobs.

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  • Less than a tenth of 1% of all small establishments had moved into the city from somewhere else.

Traded Businesses.png

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. 

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  • These companies generally hire in large numbers and offer better pay. 

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  • Only 19% of Philadelphia companies are in the traded category.