A small business is generally defined as independently owned and operated with fewer than 100 employees and less than $10 million in annual revenue.
Business Environment and Resources
Connecticut offers a favorable environment for starting and expanding a business. To establish a proper business, you’ll need to pick a structure and register it with the state. It’s important to research local requirements and obtain necessary approvals before starting operations. Building a strong financial foundation helps ensure long-term success.
Roughly 99.4% of Connecticut businesses are small, privately owned firms with under 1,500 workers that earn less than $40 million in annual sales. Many have fewer than five workers.
Connecticut has business structures for all entrepreneur types.
Connecticut’s Department of Economic Development provides resources for small businesses including innovation funds, seed funding, energy assistance and more. The Connecticut Community Economic Development Fund offers loans to small businesses.
Defining a Small Business
What classifies small business?
Small businesses are independently owned companies with fewer than 100 employees and under $10 million in yearly revenue. Connecticut has a supportive environment for launching and growing businesses. The Department of Economic Development gives resources like seed funding and energy help. The Community Economic Development Fund provides small business loans.