The Fastest-Growing Small Business Industries

Date: June 16, 2015

Related Content: Analysis Economy National

Trucking and construction lead the top-growing industries.

General freight trucking companies have seen nearly 25
percent sales growth since last year, making it the fastest-growing industry
for small business, according to a recent Forbes
article

The industry has seen 24.8 percent growth, nearly triple the
8.5 percent average growth for all small businesses. The results were
calculated for the previous 12 months that ended May 31, 2015, and used Sageworks’
data about businesses with less than $5 million in annual revenue. 

“A lot of the growth in trucking initially after the
recession was related to oil and oil production, but even as some of the
production has tapered down and oil prices have dropped, growth among small
businesses in the industry still remains high,” said Sageworks analyst Chuck
Nwokocha in the Forbes article.

Specialty freight trucking, which includes tankers and
refrigerated truckers, has also seen a lot of growth. At 16.3 percent, it’s the
fourth fastest-growing industry on Sageworks’ list.

Construction prevails as another common thread throughout:
Five of the 10 fastest-growing industries are related to construction. [see the related infographic.] Nwokocha
said that the industry’s strength is “pulling a lot of these sectors along
with it.”

To read more about how small businesses are doing, check out
NFIB’s Small Business Economic Trends report.

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