Without Oklahoma Small Business, No New Jobs for Four Years

Advisory Date: Friday, March 8, 2013
Release Date: Thursday, February 28, 2013
Contact: Larry Weatherford, 405/609-8012 Larry.Weatherford@SBA.gov

Small business job growth represented all of the net job growth in Oklahoma from 2007-2010 according to recent U.S. Small Business Administration data.

“This is a striking statistic that reflects the importance of entrepreneurship in Oklahoma,” said Dottie Overal, Oklahoma SBA district director. “Without small business, Oklahoma would have been dead in the water when it comes to job growth.”

The statistics are included in a new Small Business Profile of Oklahoma (http://www.sba.gov/sites/default/files/ok12.pdf) that demonstrates that in the four years from 2007-2010, net new job growth came from businesses with less than 500 employees, despite an overall weak employment situation.

More than 54 percent of Oklahomans worked for the 332,998 small businesses or self-employed in Oklahoma.

Overal reminds Oklahomans starting or growing a small business to take full advantage of the programs and services offered by the U.S. Small Business Administration.

“Starting your own business or expanding your business can be frightening,” she said.  “But the path is much smoother if entrepreneurs take advantage of SBA counseling services provided through our partner organizations, SBA loans through participating banks, and SBA guidance into the opportunities provided by federal contracting.”

The Oklahoma District Office of the SBA is responsible for providing businesses with tools for enhancing and growing their businesses. It also oversees the delivery of SBA's programs throughout the states such as:

  • Free counseling, advice and information on starting a business through SCORE, the Oklahoma Small Business Development Centers, and the Women’s Business Center.  These organizations also conduct training events throughout the district.
  • Financial assistance for new or existing businesses through guaranteed loans made by area bank and non-bank lenders.
  • Business development assistance via the 8(a) program, available to businesses owned and controlled by socially and economically disadvantaged individuals.
  • Veterans assistance through the Boots to Business program and dedicated lending programs for Veterans

For more information on any of these programs, contact the Oklahoma District office at 405/609-8000.

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