America’s Top Small Businesses: By the Numbers

Thaddeus Swanek
Senior Writer and Editor, Strategic Communications, U.S. Chamber of Commerce

Published

September 22, 2023

In a year that saw a record-breaking pool of over 15,000 applicants from all corners of the nation, the U.S. Chamber of Commerce announced America’s 70 top small businesses. The reveal of these 70 exceptional businesses nationwide set the stage for the Chamber’s America's Top Small Business Awards winner on Oct. 19, 2023.

The applicants for America’s Top Small Business Awards came from diverse locations, industries, and backgrounds and represent a microcosm of American small business today. The top 70 that emerged range from an auction house in Alaska to a music store in Michigan and from a specialty wig store in Georgia to a pickleball paddle company in Utah. They are deeply engaged in their communities, create jobs, and keep America on the cutting edge of new innovations.

Honoring America's Top Small Businesses

The Results Are In. These Are America's Top 100 Small Businesses

Here’s a deeper look at the applicants for America’s Top Small Business and who they are.

There were 15,737 applicants from all 50 states, Washington, D.C., and Puerto Rico. California had the most completed applications, with 12%, followed closely by Florida (11%) and Texas (8%). The 70 top small businesses came from the South, Northeast, Midwest, West, and Alaska.

Demographically, business owners who completed applications this year are diverse, embodying many perspectives and backgrounds. More than half (56%) are women-owned. A similar percentage (53%) are minority-owned. Nearly one in three completed applications came from family-owned businesses. One in five are under the age of 30.

Twenty percent identified their business as eco-friendly, while 8% said their business is focused on serving military, veterans, or first responders. Small percentages of applications came from immigrant-owned businesses (11%), veteran-owned businesses (7%), and LGBTQ+-owned businesses (5%).

Applicants also came from a wide range of industries, with retailers, professional services, and arts and entertainment firms turning in the most applications.

This year’s applicants also provided insight into the biggest challenges their businesses are facing. Forty-one percent of completed applications mentioned access to capital as an issue impacting their business, followed by inflation (36%), technology needs (22%), and supply chain issues (20%).

Other top challenges include the worker shortage, meeting customer demands, prompt payment on invoices, federal/state regulations, and crime. The U.S. Chamber of Commerce also surveys small business owners quarterly for the MetLife and U.S. Chamber Small Business Index. Recent Index data also reflects a large share of small businesses concerned about access to capital, inflation, and employee retention.

America’s Top Small Business is part of the U.S. Chamber’s longstanding commitment to supporting and advocating for small businesses. We work every day to fight for policies and regulations that benefit small business, elevate the voice of America’s small business owners, highlight the role they play in the nation’s economy, and support Main Street businesses’ growth and success with tailored resources and expert insights.

Learn more about the U.S. Chamber’s small business work here.