Indiana small businesses thrive despite challenges

Photo by Tim Mossholder

Starting a business is fraught with decisions ranging from defining the type of business to start, choosing whether to be a home-based, online, or a brick-and-mortar company, hiring staff and calculating startup and operational costs.

According to the Indiana Small Business Economic Profile 2021, there are nearly 530,000 small businesses in Indiana, employing more than 1.2 million Hoosiers.

David Watkins, senior vice president of entrepreneurship and small business for the Indiana Economic Development Corporation, said the one component large and small companies have in common also makes them competitors.

“It is not easy for a small business at times to compete on a talent basis with some of our large corporations that do great work for the community but are competing for the same workers,” Watkins pointed out.

Watkins acknowledged access to capital is…

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