More than 300 small businesses open across Indiana

Staff Report

INDIANAPOLIS —A record-breaking number of small businesses opened in Indiana in 2018, according to a Friday announcement by the Indiana Economic Development Corporation (IEDC).

With help from the Indiana Small Business Development Center (SBDC) and the Indiana Procurement Technical Assistance Center (PTAC), 318 small businesses opened across the state in 2018.

Of the new businesses, 41 percent are owned by women, 19 percent are led by minority owners and 5 percent are owned by veterans.

The IEDC estimates the business growth created more than 1,550 new jobs and secured $86 million in government contracts.

“With more than 508,000 companies employing 1.2 million Hoosiers, small businesses play a critical role in maintaining long-term economic growth in Indiana and supporting good jobs in our communities,” said IEDC President Elaine Bedel in a press release.

Legislation up for debate at the Indiana Statehouse may further expand small business development. For example, Senate Bill 154, authored by Sen. Lonnie Randolph, D-East Chicago, would enact a small business council to oversee and promote small business development through the IEDC.

Should SB 154 become law, the proposed council would host biannual meetings with the IEDC and mandate the IEDC aid any individual or entity interested in small business development, regardless of their income, credit score, employment status or criminal history. is a news website powered by Franklin College journalism students.

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