Nebraska Small Business Statistics
Nebraska has earned a great reputation for its skilled, hard-working labor force. After all, the state has one of the best educational systems in the U.S. and consistently maintains one of the nation’s lowest unemployment rates (2.4% as of October 2022).
With plenty of opportunities for small businesses, Nebraska holds its proud position in America's Top 10 Best States for Business. This is mainly due to the fact that Cornhusker State combines affordability, flexibility, tangibles, and environmental benefits.
Due to its beneficial location, infrastructure, and utilities, Nebraska can become an ideal place for your business. The state is always ready to provide the necessary support to all new and existing companies of any scale, and it has plenty of resources and incentive programs designed to meet the needs of expanding and relocating businesses.
Uniquely positioned in the center of the country, Nebraska was built for successful business cooperation and connections. After all, Beef State has 9 major airports and over 300 miles of inland waterways.
The article provides captivating statistics on Nebraska's small businesses.
2022 Small Business Statistics in Nebraska: Key Takeaways
- Nebraska's unemployment rate in October 2022 was only 2.4%;
- In 2022, Nebraska employed 997,665 people, which ranks it 37th among all other states;
- In 2021, there were 180,988 (99.1%) small businesses and 415,989 (49.2) small business employees in Nebraska;
- According to the U.S. Bureau of Labor Statistics, in 2021, the Cornhusker State had the highest employment-population ratio at 67.7%;
- In August 2022, Nebraska managed to achieve a positive trade balance of $296M due to exporting $811M and importing $514M;
- In 2022, the state of Nebraska has a population of 1,974,166, having grown an annualized 0.6% over the five years to 2022;
- According to CNBC's America's Top States for Business, Nebraska ranks 7th out of all 50 U.S. states;
- $53,263 is the per capita disposable income in the Cornhusker State;
- 5.3% of businesses in the state are owned by racial minorities;
- 5.6% of employees in Nebraska are military veterans. They own 8.7% of all businesses in the state;
- The fastest-growing private company (by growth rate) in Nebraska was Fremont-based Summit Medical Staffing;
- The Nebraska sales tax rate is 5.5% statewide and income tax rates range between 2.46% and 6.84%.
Fastest Growing Companies in Nebraska
According to Growjo, in 2022, the top 10 fastest-growing companies in the Beef State were as follows:
| Rank | Company Name | City | Industry | 2022 Employees | 2022 Revenue |
|---|---|---|---|---|---|
| 1 | Ballantyne Strong | Omaha | Music | 178 | $15M |
| 2 | GS Labs | Omaha | Hospital/Healthcare | 126 | $34M |
| 3 | CompanyCam | Lincoln | Construction | 183 | $57.1M |
| 4 | Waterlogic | Omaha | Food | 222 | $65.9M |
| 5 | Carson Group | Omaha | Fintech | 344 | $56.8M |
| 6 | Monolith Materials | Lincoln | Chemicals | 180 | $15M |
| 7 | Ventura MedStaff | Omaha | Recruiting | 121 | $14.5M |
| 8 | BasicBlock | Lincoln | Fintech | 27 | $2.5M |
| 9 | Air Combat Command | Omaha | Engineering | 220 | $24.2M |
| 10 | Virtual Incision Corp | Lincoln | Medical Equip | 46 | $11.5M |
- According to Statista, the fastest-growing private company (by growth rate) in Nebraska was Fremont-based Summit Medical Staffing. In 2022, the company grew stunningly by 1,034%. Viking Industrial Painting, which grew by 1,542%, took 2nd place;
- According to Inc. Magazine, a couple of honorable mentions are also North End Teleservices (Omaha, NE), a woman- and minority-owned telecommunications business, which showed 1,035% growth, and Anequim (Omaha, NE), a staffing company serving the property management industry (human resources), which showed 1,034% growth.
Nebraska's Most Favorable Companies to Work for
According to Zippia, a list of the top 10 most favorable (by salaries, financial health, and employee diversity) companies to work for in Nebraska looks as follows:
| Rank | Company Name | Industry | City | Revenue | Employees |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | Conglomerate | Omaha | $245.5B | 360,000 |
| 2 | Gavilon | Financial Services | Omaha | $930M | 930 |
| 3 | Union Pacific | Transportation | Omaha | $19.5 | 30,960 |
| 4 | Public Power District | Utilities | Omaha | $1.1B | 1,797 |
| 5 | Loup Logistics | Transportation, Trucking, Railroad | Omaha | $19.5B | 30,960 |
| 6 | Scoular Chain | Logistics and Supply | Omaha | $530M | 1,000 |
| 7 | Crete Carrier | Transportation, Trucking, Railroad | Lincoln | $790M | 6,000 |
| 8 | Duncan Aviation | Transportation | Lincoln | $280M | 1,751 |
| 9 | TD Ameritrade | Financial Services | Omaha | $6.0B | 8,939 |
| 10 | Lindsay | Manufacturing, Agriculture | Omaha | $474.7M | 1,235 |
Nebraska Unemployment Rate
- According to Statista, Nebraska's unemployment rate in October 2022 was only 2.4%. Thus, the state holds the 45th position among all other U.S. states;
- Following are only New Hampshire (2.4%), South Dakota (2.4%), North Dakota (2.4%), Vermont (2.4%), Utah (2.1%), and Minnesota (2.1%).
Nebraska 2022 Economy Statistics from May 2022 to October 2022
According to the U.S. Bureau of Labor Statistics, from May 2022 to October 2022, the state's economy, including data on the labor force, nonfarm wage, and salary employment, looked as represented in the table below.
| Data Series | May2022 | June2022 | July 2022 | August 2022 | September 2022 | October 2022 |
| Labor Force Data | ||||||
| Civilian Labor Force (number of persons, in thousands, seasonally adjusted) | 1,062.7 | 1,063.5 | 1,063.2 | 1,063.2 | 1,063.5 | (P) 1,063.3 |
| Employment (number of persons, in thousands, seasonally adjusted) | 1,042.7 | 1,043.3 | 1,042.1 | 1,040.8 | 1,039.9 | (P) 1,038.1 |
| Unemployment (number of persons, in thousands, seasonally adjusted) | 19.9 | 20.2 | 21.1 | 22.4 | 23.6 | (P) 25.2 |
| Unemployment Rate (in percent, seasonally adjusted.) | 1.9 | 1.9 | 2.0 | 2.1 | 2.2 | (P) 2.4 |
| Nonfarm Wage & Salary Employment | ||||||
| Total Nonfarm (number of jobs, in thousands, seasonally adjusted.) | 1,027.7 | 1,032.6 | 1,031.6 | 1,029.3 | 1,036.2 | (P) 1,038.7 |
| 12-month % change | 2.4 | 2.5 | 2.0 | 1.9 | 2.8 | (P) 2.8 |
| Mining, Logging, and Construction (number of jobs, in thousands, seasonally adjusted) | 57.7 | 59.0 | 59.0 | 59.6 | 59.9 | (P) 60.9 |
| 12-month % change | 1.6 | 3.7 | 3.3 | 4.2 | 4.9 | (P) 5.7 |
| Manufacturing (number of jobs, in thousands, seasonally adjusted) | 100.9 | 102.1 | 102.2 | 102.1 | 101.5 | (P) 102.0 |
| 12-month % change | 2.2 | 2.9 | 2.2 | 1.9 | 1.3 | (P) 3.1 |
| Trade, Transportation, and Utilities (number of jobs, in thousands, seasonally adjusted) | 198.5 | 198.8 | 197.9 | 197.1 | 199.1 | (P) 200.7 |
| 12-month % change | 2.6 | 2.7 | 2.2 | 1.7 | 3.1 | (P) 3.3 |
| Information (number of jobs, in thousands, seasonally adjusted) | 18.6 | 18.7 | 18.9 | 19.2 | 19.4 | P) 19.4 |
| 12-month % change | 5.7 | 5.1 | 5.6 | 6.7 | 7.8 | (P) 7.8 |
| Financial Activities (number of jobs, in thousands, seasonally adjusted) | 72.3 | 71.9 | 71.4 | 72.1 | 71.7 | (P) 70.9 |
| 12-month % change | -0.8 | -1.1 | -2.1 | -1.0 | -1.1 | (P) -2.2 |
| Professional & Business Services (number of jobs, in thousands, seasonally adjusted) | 121.5 | 122.6 | 122.7 | 121.6 | 121.3 | (P) 119.8 |
| 12-month % change | 3.8 | 5.0 | 4.1 | 3.4 | 3.7 | (P) 2.7 |
| Education & Health Services (number of jobs, in thousands, seasonally adjusted) | 161.6 | 161.7 | 161.2 | 160.5 | 162.2 | (P) 162.2 |
| 12-month % change | 3.5 | 3.3 | 2.8 | 2.6 | 3.9 | (P) 3.0 |
| Leisure & Hospitality (number of jobs, in thousands, seasonally adjusted) | 89.8 | 91.5 | 93.0 | 90.8 | 93.4 | (P) 93.9 |
| 12-month % change | 5.4 | 5.2 | 5.3 | 3.7 | 7.2 | (P) 5.5 |
| Other Services (number of jobs, in thousands, seasonally adjusted) | 36.9 | 36.3 | 36.2 | 36.4 | 36.8 | (P) 37.4 |
| 12-month % change | 2.5 | 0.3 | -0.8 | -1.1 | 0.8 | (P) 1.9 |
| Government (number of jobs, in thousands, seasonally adjusted) | 169.9 | 170.0 | 169.1 | 169.9 | 170.9 | 171.5 |
| 12-month % change | -0.2 | -0.2 | -0.7 | 0.2 | 0.5 | 1.2 |
*P = Preliminary
Nebraska Economic Complexity, Import & Export Brief Statistics in 2022
According to the Observatory of Economic Complexity, in August 2022, Nebraska managed to achieve a positive trade balance of $296M due to exporting $811M and importing $514M.
Below are detailed export and import statistical facts about Nebraska, including the main directions of the state, trading countries, and industries:
- Nebraska exports have increased significantly by $173M (27.1%), from $638M to $811M, during the period between August 2021 and the same month in 2022;
- As for imports of the state, they increased by $112M (27.9%), from $402M to $514M;
- The annual growth tendency can be explained primarily by increased exports to Mexico ($16.8M or 12.2%), South Korea ($15.9M or 54.6%), and China ($12.1M or 42.5%);
- Additionally, product exports of the state also increased in Corn ($18.1M or 83.2%), Wheat ($8.88M or 1.95k%), and Chemical Analysis Instruments ($8.32M or 187%);
- As for the increase in Nebraska's annual imports in August 2022, the reason is an increase in imports from Canada ($9.92M or 13.3%), Mexico ($6.03M or 15.4%), and France ($3.92M or 83.9%);
- The state's product imports also increased in Tractors ($11.3M or 165%), Packaged Medicaments ($8.95M or 135%), and Other Vegetable Residues ($7.76M or 193%);
- Additionally, according to Statista, in September 2022, the value of Nebraska's imports amounted to about $512.5M. The state's exports, in turn, were valued at around $689.22M that month;
- As for trade statistics of the state in August 2022, the top exports were Soybeans ($99M), Frozen Bovine Meat ($77.8M), Bovine Meat ($69.6M), Motor vehicles (8701 to 8705), parts and accessories ($68.3M), and Harvesting Machinery ($43.6M);
- Whereas, the top imports in the same month were Nucleic Acids ($41.2M), Harvesting Machinery ($31.1M), Nitrogen Heterocyclic Compounds ($29.1M), Tractors ($22M), and Commodities not elsewhere specified ($13.8M);
- According to Statista, in June 2022, overall imports of manufactured commodities amounted to $448.2M in Nebraska. As for overall imports of non-manufactured commodities, the amount was $25M;
- In August 2022, Nebraska's top export destinations were Mexico ($201M), Canada ($126M), Colombia ($67.5M), Japan ($63.5M), and South Korea ($60.6M);
- In the same month, the state imported mainly from Canada ($120M), China ($113M), Germany ($46.9M), Mexico ($44.3M), and Switzerland ($36.1M).
Nebraska's Largest Industries by Revenue in 2022
According to IBISWorld, Nebraska's largest industries by revenue are Corn, Wheat & Soybean Wholesaling, Meat, Beef & Poultry Processing, and Health & Medical Insurance. In 2022, these industries generated $18.8b, $17.0b, and $12.6b, respectively.
A list of the top 10 largest industries in the state looks as follows:
| Rank | Industry | Revenue in 2022 |
|---|---|---|
| 1 | Corn, Wheat & Soybean Wholesaling | $18.8B |
| 2 | Meat, Beef & Poultry Processing | $17B |
| 3 | Health & Medical Insurance | $12.6B |
| 4 | Life Insurance & Annuities | $12.4B |
| 5 | Property, Casualty, and Direct Insurance | $9.1B |
| 6 | Hospitals | $8B |
| 7 | New Car Dealers | $7.5B |
| 8 | Commercial Banking | $7B |
| 9 | Gas Stations with Convenience Stores | $6.8B |
| 10 | Gasoline & Petroleum Bulk Stations | $6B |
Nebraska's Largest Companies by Employment
Additionally, according to IBISWorld, Nebraska's largest companies by employment are the University of Nebraska, Walmart Inc., and Berkshire Hathaway Inc. All these companies are headquartered in the state and employed 16,000, 13,590, and 11,990 people in 2022, respectively.
| Rank | Company Name | 2022 Employment | 2022 Employment (%) |
|---|---|---|---|
| 1 | University of Nebraska | 16,000 | 1.6% |
| 2 | Walmart Inc. | 13,590 | 1.4% |
| 3 | Berkshire Hathaway Inc. | 11,990 | 1.2% |
| 4 | CHI Health | 10,285 | 1.0% |
| 5 | Offutt Air Force Base | 10,000 | 1.0% |
| 6 | Valley Health System | 9,042 | 0.9% |
| 7 | Nebraska Medicine | 9,000 | 0.9% |
| 8 | Omaha Public Schools | 7,000 | 0.7% |
| 9 | Tyson Foods, Inc. | 4,000 | 0.4% |
| 10 | Fiserv, Inc. | 4,000 | 0.4% |
LLC Formation Statistics and Cost in Nebraska
When it comes to the most favorable business structure in the United States, almost any entrepreneur would agree that it’s a limited liability company (LLC).
To open an LLC in Nebraska, before you get to completing and filing your registration documents with the Secretary of State, make sure you check our list of the main fees and documents to consider as follows:
- A Nebraska LLC can be formed by completing and filing a Certificate of Organization (also known as Articles of Organization) with the Secretary of State by mail or online;
- The filing fee is $110 (in-office) and $100 (online) for domestic LLCs. The same goes for professional LLCs (PLLCs) and foreign LLCs;
- To keep the state of Nebraska updated about several key facts regarding your business, you will need to file your biennial report each year. The fee is $13 (must be paid each year by the LLC. Due by April 1 of odd-numbered years;
- “Doing business as” (DBA) name. If you would like to register an alternative name for your LLC, you will need to file an Application for Registration of Trade Name with the Secretary of State. This will cost you $100;
- The average cost of registered agent services in Nebraska is $100 per year on average;
- Nebraska does not require a general business license. However, depending on the industry of your LLC, its location, and the type of business you run, the cost of specific business licenses for LLCs in Nebraska can vary from $100 to 700$;
- In Nebraska, to reserve an available name for your LLC, you will need to file an Application for Reservation of LLC Name and pay $30 (the name can be reserved for up to 120 days);
- To obtain certified copies of your registration documents, you will need to pay $10;
- To get your Certificate of Good Standing, you will need to pay $6.50 for a digital copy or $10 for a hard copy to the Secretary of State. Note that the cost for batch requests of Secretary of State business entity requests is $15 per 1000 records;
- The Nebraska sales tax rate is 5.5% statewide and income tax rates range between 2.46% and 6.84%.
For more information on all other fees for LLCs in the state, visit this page.
If you’re planning to open a business entity in Nebraska, you can visit the official website of Nebraska and check out a list of useful business resources that can help you find all the necessary information associated with the business formation process in the state and more.
Nebraska's Employment Trends by Sector
- One of the most important indicators of growth and contraction rates in various sectors of any state is employment trends. That said, according to IBISWorld, in 2022, Nebraska employed 997,665 people, which ranks it 37th among all other states;
- During the last 5 years, the employment rate in the state has grown at a yearly rate of 1.6%. The main sectors of employment in Nebraska are Healthcare and Social Assistance, Retail Trade, and Information, which employed 160,449, 131,851, and 110,124 workers in 2022, respectively.
| Rank | Sector | Employment | 2022 Growth (%) | Annualized Growth 2017-2022 |
|---|---|---|---|---|
| 1 | Healthcare and Social Assistance | 160,449 | 2.3% | 1.9% |
| 2 | Retail Trade | 131,851 | 2.1% | 0.6% |
| 3 | Information | 110,124 | 3.2% | 2.5% |
| 4 | Administration, Business Support, and Waste Management Services | 96,936 | 6.5% | 2.0% |
| 5 | Accommodation and Food Services | 74,704 | 6.2% | 1.7% |
| 6 | Construction | 65,889 | 0.1% | 2.0% |
| 7 | Professional, Scientific, and Technical Services | 60,096 | 1.4% | 1.6% |
| 8 | Educational Services | 58,912 | -0.6% | 0.6% |
| 9 | Transportation and Warehousing | 51,082 | 5.9% | 5.8% |
| 10 | Other Services (except Public Administration) | 45,733 | 0.8% | 0.7% |
Also, according to the resource, the Manufacturing, Finance, and Insurance and Agriculture, as well as Forestry, Fishing and Hunting sectors contributed the most to Nebraska's gross domestic product (GDP) in 2022, representing a combined 37.6% of the state GDP.