Montana small business statistics
Montana logged 29,887 business applications in 2025, up 10.9% from 2024 and 111.2% from the pre-pandemic 2019 baseline. Professional services added the most private-sector establishments since 2019. Construction added the most private-sector jobs.
Business applications, employment, lending, tax, bankruptcy, and contracting records cover different parts of Montana's business economy.
At a glance
Montana logged 29,887 business applications in 2025, up 10.9% from 2024 and 111.2% from the pre-pandemic 2019 baseline.
Through May 2026, total applications were up 11.7% from the same months in 2025; high-propensity applications were up 8.8%.
Flathead filed 8,727 applications in 2025, the largest county total in Montana. Flathead also led the high-volume counties after adjusting for population. That rate measures filing intensity; later employer data capture storefront openings.
Professional services added the most private-sector establishments since 2019. Construction added the most private-sector jobs.
SBA 7(a) and 504 approvals to Montana businesses reached $178.5M in FY2025 across 317 loans, led by retail trade, accommodation and food services, construction, professional services, and real estate and rental.
Business bankruptcy cases tied to Montana counties held at 46 in the 12-month period ending March 31, 2026.
New business formation
Montana business applications reached 29,887 in 2025, up 10.9% from 2024. Through May 2026, applications were 11.7% higher than in the same months of 2025.
Why compare with 2019
2019 is the last full year before the pandemic. The shutdown period and the business churn that followed changed EIN filing patterns. High-propensity applications totaled 3,936 through May 2026, up 8.8% from Jan-May 2025. Projected business formations within eight quarters fell 12.0% over the same period.
Census BFS counts applications for employer identification numbers. Applications are early filings; confirmed operating-business counts arrive later.
Where applications are concentrated
Flathead is the largest application market by raw volume and after population adjustment. The rate measures filing intensity; operating-business creation appears later in employer data.
Applications relative to population
Each rate divides 2025 Census BFS applications by the county’s Census Vintage 2025 resident population estimate. Flathead leads both the raw filing count and the population-adjusted rate among the high-volume counties shown below. Confirmed operating-business counts arrive later in employer data.
Census BFS counts EIN applications. The denominator is 2025 resident population, which adjusts the filing count for scale. Startup conversion requires a business-based denominator.
| County | 2025 applications | Change vs 2024 | Change vs 2019 |
|---|---|---|---|
| Flathead | 8,727 | +19.3% | +272.9% |
| Missoula | 4,030 | +17.7% | +130.8% |
| Gallatin | 3,641 | +8.5% | +63.9% |
| Yellowstone | 3,469 | +11.9% | +95.5% |
| Lewis and Clark | 1,987 | -9.1% | +71.1% |
| Cascade | 1,037 | +11.9% | +75.2% |
Jobs, establishments, and wages
In 2024, Montana had 61,654 private-sector establishments and 426,650 private-sector jobs. The establishment count was 28.7% higher than in 2019, and employment was 10.3% higher.
Professional services led establishment growth.
Professional services added 4,248 establishments from 2019 to 2024. Construction added 7,326 jobs over the same period.
BLS QCEW counts employer establishments and jobs, along with wages, payroll, and local industry structure.
| Industry | 2024 establishments | Change vs 2019 | 2024 jobs | Change vs 2019 |
|---|---|---|---|---|
| Professional services | 10,446 | +4,248 (+68.5%) | 28,853 | +5,705 (+24.6%) |
| Construction | 7,965 | +1,533 (+23.8%) | 37,240 | +7,326 (+24.5%) |
| Health care and social assistance | 5,236 | +1,038 (+24.7%) | 74,380 | +4,781 (+6.9%) |
| Other services | 4,644 | +491 (+11.8%) | 19,410 | +968 (+5.2%) |
| Administrative services | 4,067 | +1,006 (+32.9%) | 21,620 | +3,417 (+18.8%) |
| Accommodation and food services | 3,964 | +330 (+9.1%) | 60,313 | +5,717 (+10.5%) |
| Wholesale trade | 3,416 | +649 (+23.5%) | 19,104 | +1,915 (+11.1%) |
| Finance and insurance | 2,999 | +812 (+37.1%) | 16,970 | +877 (+5.4%) |
| Real estate and rental | 2,461 | +334 (+15.7%) | 6,689 | +583 (+9.5%) |
| Arts and entertainment | 1,630 | +211 (+14.9%) | 12,989 | +577 (+4.6%) |
SBA lending
SBA 7(a) and 504 approvals to Montana businesses totaled $178.5M in FY2025 across 317 loans. The SBA files report 2,621 jobs supported for those approvals.
Retail trade drew the most SBA capital.
Retail trade drew $38.2M in FY2025 SBA approvals. Accommodation and food services, construction, professional services, and real estate and rental received the next-largest approval totals.
SBA fiscal year 2025 ran from Oct. 1, 2024, through Sept. 30, 2025. The published files were current as of April 28, 2026.
| Sector | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Retail trade | 49 | $38.2M | 584 |
| Accommodation and food services | 49 | $33.1M | 628 |
| Construction | 51 | $21.4M | 324 |
| Professional services | 33 | $17.8M | 136 |
| Real estate and rental | 14 | $13.9M | 81 |
| Manufacturing | 13 | $12.3M | 124 |
| Other services | 31 | $11.9M | 152 |
| Health care and social assistance | 23 | $8.4M | 235 |
| Transportation and warehousing | 7 | $8.0M | 67 |
| Administrative services | 25 | $5.1M | 184 |
| County | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Yellowstone | 59 | $40.2M | 500 |
| Gallatin | 63 | $39.5M | 682 |
| Flathead | 42 | $24.5M | 267 |
| Missoula | 32 | $14.6M | 368 |
| Ravalli | 16 | $10.4M | 76 |
| Lewis And Clark | 27 | $9.7M | 207 |
| Cascade | 28 | $8.0M | 171 |
| Lake | 14 | $6.9M | 139 |
| Silver Bow | 5 | $5.0M | 40 |
| Jefferson | 2 | $4.1M | 14 |
The unincorporated business economy
IRS SOI data show 114,540 Montana Schedules C and partnership returns/forms in Tax Year 2023. Those businesses reported $15.3B in gross receipts and $2.3B in the combined income/profit measure.
Sole proprietors account for most returns.
Montana had 93,909 nonfarm sole-proprietor Schedules C in Tax Year 2023, with $6.2B in gross receipts and $1.3B in net profit.
Partnerships reported more gross receipts.
Montana partnerships filed 20,631 Forms 1065 in Tax Year 2023 and reported $9.1B in gross receipts.
| County | Returns/forms | Gross receipts | Combined income/profit metric |
|---|---|---|---|
| Gallatin | 17,947 | $3.2B | $390.0M |
| Flathead | 15,137 | $1.8B | $278.2M |
| Yellowstone | 14,670 | $2.1B | $553.5M |
| Missoula | 13,543 | $1.5B | $249.2M |
| Lewis And Clark | 6,949 | $726.3M | $137.6M |
| Cascade | 5,793 | $1.2B | $102.3M |
| Ravalli | 5,625 | $478.1M | $103.9M |
| Lake | 2,950 | $246.4M | $41.9M |
| Silver Bow | 2,905 | $589.4M | $79.8M |
| Park | 2,678 | $271.1M | $28.3M |
Business stress signals
Business bankruptcy cases tied to Montana counties held steady at 46 in the 12 months ending March 31, 2026. Chapter 11 accounted for 12 cases.
Why county totals can jump
Gallatin had the largest business-bankruptcy count in the latest F-5A table. Related business cases filed in the same venue can create a sudden change in one county’s total.
Definition: U.S. Courts classifies debt as business when the debtor is a corporation or partnership, or when business-related debt predominates.
| County | Business cases, 12 months ending Mar. 31, 2026 | Change vs prior 12 months | Chapter 11 cases | All bankruptcy cases |
|---|---|---|---|---|
| Gallatin | 9 | +4 | 1 | 106 |
| Yellowstone | 7 | -2 | 1 | 148 |
| Chouteau | 5 | +5 | 0 | 7 |
| Lake | 5 | +5 | 2 | 20 |
| Fergus | 4 | +3 | 4 | 7 |
| Missoula | 3 | -3 | 0 | 115 |
| Cascade | 3 | +1 | 1 | 93 |
| Jefferson | 3 | +3 | 1 | 8 |
| Flathead | 2 | -5 | 1 | 75 |
| Ravalli | 1 | -1 | 0 | 49 |
National credit backdrop
The 2026 Fed Small Business Credit Survey appendix reported that 94% of U.S. employer firms faced a financial challenge in 2025, 38% applied for financing, and 52% of applicants were fully approved.
Federal contract demand
USAspending reports $2.1B in FY2025 federal procurement obligations to recipients located in Montana. USAspending assigns these obligations to the recipient’s state and includes award type codes A, B, C, and D.
| NAICS | Federal procurement category | FY2025 obligations |
|---|---|---|
| 236220 | Commercial and Institutional Building Construction | $888.3M |
| 237990 | Other Heavy and Civil Engineering Construction | $419.9M |
| 481212 | Nonscheduled Chartered Freight Air Transportation | $195.6M |
| 115310 | Support Activities for Forestry | $54.2M |
| 336413 | Other Aircraft Parts and Auxiliary Equipment Manufacturing | $48.1M |
| 541614 | Process, Physical Distribution, and Logistics Consulting Services | $47.9M |
| 541330 | Engineering Services | $36.4M |
| 541715 | Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) | $30.8M |
| 335311 | Power, Distribution, and Specialty Transformer Manufacturing | $30.0M |
| 333924 | Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing | $27.6M |
How the numbers fit together
Montana's business applications rose 10.9% in 2025. The employer base has expanded since 2019, with establishments up 28.7% and employment up 10.3%.
Sources and definitions
Each dataset updates on its own schedule. Annual figures use the latest complete year, and partial-year comparisons are labeled beside the relevant number.
- Census BFS monthly CSV
Updated June 10, 2026, 14:00 GMT - Census BFS county workbook
Updated June 10, 2026, 14:22 GMT - Census county population estimates
Vintage 2025 county resident population estimates - BLS QCEW annual area files
2019 and 2024 annual API files - SBA 7(a)/504 FOIA package
Updated April 28, 2026, 14:42 GMT - IRS SOI Tax Year 2023 unincorporated tables
Tax Year 2023 county combined, sole proprietor state, and partnership state tables - U.S. Courts F-5A bankruptcy XLSX
12 months ending March 31, 2026 - Fed SBCS Main Street Metrics appendix
Last updated March 23, 2026 - USAspending API
FY2025 procurement obligations
Alex Morgan turns Census, BLS, SBA, IRS, court, Federal Reserve, and USAspending records into state-by-state business comparisons.