Wyoming small business statistics
Wyoming logged 79,023 business applications in 2025, up 22.6% from 2024 and 301.9% from the pre-pandemic 2019 baseline. Professional services led both private-sector establishment and job growth since 2019.
Business applications, employment, lending, tax, bankruptcy, and contracting records cover different parts of Wyoming's business economy.
At a glance
Wyoming logged 79,023 business applications in 2025, up 22.6% from 2024 and 301.9% from the pre-pandemic 2019 baseline.
Through May 2026, total applications were up 12.6% from the same months in 2025; high-propensity applications were up 3.5%.
Sheridan filed 47,787 applications in 2025, the largest county total in Wyoming. The extreme concentration points to filing-location activity. Employer records capture newly opened local establishments later.
Professional services led both private-sector establishment and job growth since 2019.
SBA 7(a) and 504 approvals to Wyoming businesses reached $81.7M in FY2025 across 168 loans, led by retail trade, accommodation and food services, professional services, other services, and transportation and warehousing.
Business bankruptcy cases tied to Wyoming counties fell from 41 to 37 in the 12-month period ending March 31, 2026.
New business formation
Wyoming business applications reached 79,023 in 2025, up 22.6% from 2024. Through May 2026, applications were 12.6% 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 9,102 through May 2026, up 3.5% from Jan-May 2025. Projected business formations within eight quarters rose 13.8% 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
Sheridan dominates both raw and population-adjusted Census filing-location data. Its extreme concentration calls for a separate look at registered-agent activity and later employer records.
Applications relative to population
Each rate divides 2025 Census BFS applications by the county’s Census Vintage 2025 resident population estimate. Sheridan’s row is extreme: 47,787 applications, or 60.5% of statewide 2025 applications. Later employer records establish how many operating businesses opened in Sheridan County.
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 |
|---|---|---|---|
| Sheridan | 47,787 | +25.1% | +517.3% |
| Laramie | 14,904 | +57.5% | +299.7% |
| Natrona | 7,711 | -17.7% | +452.4% |
| Teton | 1,437 | +3.3% | -20.9% |
Jobs, establishments, and wages
In 2024, Wyoming had 29,070 private-sector establishments and 214,502 private-sector jobs. The establishment count was 15.1% higher than in 2019, and employment was 1.3% higher.
Professional services led establishment growth.
Professional services added 1,368 establishments from 2019 to 2024. Professional services added 1,576 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 | 4,318 | +1,368 (+46.4%) | 11,416 | +1,576 (+16.0%) |
| Construction | 3,514 | +87 (+2.5%) | 23,679 | +804 (+3.5%) |
| Health care and social assistance | 3,489 | +384 (+12.4%) | 26,272 | +654 (+2.6%) |
| Administrative services | 2,168 | +553 (+34.2%) | 9,718 | +1,218 (+14.3%) |
| Accommodation and food services | 2,003 | +45 (+2.3%) | 33,948 | +516 (+1.5%) |
| Other services | 1,717 | +62 (+3.7%) | 7,452 | +264 (+3.7%) |
| Finance and insurance | 1,625 | +440 (+37.1%) | 7,173 | +256 (+3.7%) |
| Wholesale trade | 1,380 | +93 (+7.2%) | 8,047 | -347 (-4.1%) |
| Real estate and rental | 1,130 | +9 (+0.8%) | 4,108 | -155 (-3.6%) |
| Mining | 857 | -107 (-11.1%) | 16,059 | -4,705 (-22.7%) |
SBA lending
SBA 7(a) and 504 approvals to Wyoming businesses totaled $81.7M in FY2025 across 168 loans. The SBA files report 1,305 jobs supported for those approvals.
Retail trade drew the most SBA capital.
Retail trade drew $18.6M in FY2025 SBA approvals. Accommodation and food services, professional services, other services, and transportation and warehousing 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 | 31 | $18.6M | 257 |
| Accommodation and food services | 24 | $16.0M | 244 |
| Professional services | 29 | $11.3M | 216 |
| Other services | 14 | $7.7M | 64 |
| Transportation and warehousing | 8 | $6.5M | 113 |
| Manufacturing | 3 | $6.5M | 42 |
| Construction | 14 | $3.3M | 40 |
| Health care and social assistance | 8 | $2.0M | 102 |
| Mining | 4 | $1.9M | 35 |
| Finance and insurance | 3 | $1.8M | 13 |
| County | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Laramie | 39 | $24.4M | 346 |
| Sheridan | 36 | $18.7M | 295 |
| Campbell | 12 | $5.6M | 118 |
| Park | 5 | $5.1M | 34 |
| Hot Springs | 1 | $5.0M | 51 |
| Natrona | 21 | $4.9M | 139 |
| Albany | 8 | $4.7M | 55 |
| Teton | 18 | $4.3M | 122 |
| Sweetwater | 5 | $3.9M | 46 |
| Uinta | 3 | $1.6M | 15 |
The unincorporated business economy
IRS SOI data show 69,047 Wyoming Schedules C and partnership returns/forms in Tax Year 2023. Those businesses reported $11.8B in gross receipts and $594.4M in the combined income/profit measure.
Sole proprietors account for most returns.
Wyoming had 46,705 nonfarm sole-proprietor Schedules C in Tax Year 2023, with $3.2B in gross receipts and $629.9M in net profit.
Partnerships reported more gross receipts.
Wyoming partnerships filed 22,342 Forms 1065 in Tax Year 2023 and reported $8.6B in gross receipts.
| County | Returns/forms | Gross receipts | Combined income/profit metric |
|---|---|---|---|
| Laramie | 11,307 | $1.4B | -$553.0M |
| Sheridan | 9,738 | $2.3B | $168.1M |
| Natrona | 8,259 | $2.1B | $325.9M |
| Teton | 6,837 | $2.0B | $218.0M |
| Park | 4,090 | $516.9M | $58.4M |
| Campbell | 4,005 | $666.9M | $49.0M |
| Fremont | 3,475 | $205.3M | $38.3M |
| Albany | 3,407 | $422.1M | $61.4M |
| Sweetwater | 2,654 | $459.1M | $95.9M |
| Lincoln | 2,465 | $485.2M | $23.3M |
Business stress signals
Business bankruptcy cases tied to Wyoming counties fell from 41 to 37 in the 12 months ending March 31, 2026. Chapter 11 accounted for 10 cases.
Why county totals can jump
Sheridan 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 |
|---|---|---|---|---|
| Sheridan | 7 | -1 | 4 | 32 |
| Laramie | 7 | +5 | 1 | 122 |
| Natrona | 6 | +3 | 1 | 106 |
| Albany | 4 | -4 | 0 | 21 |
| Teton | 3 | +1 | 1 | 11 |
| Johnson | 2 | +1 | 0 | 5 |
| Uinta | 2 | -1 | 2 | 35 |
| Park | 1 | -2 | 0 | 24 |
| Big Horn | 1 | +1 | 0 | 8 |
| Weston | 1 | +1 | 0 | 4 |
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 $192.7M in FY2025 federal procurement obligations to recipients located in Wyoming. 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 | $28.9M |
| 481211 | Nonscheduled Chartered Passenger Air Transportation | $24.0M |
| 115310 | Support Activities for Forestry | $18.0M |
| 481212 | Nonscheduled Chartered Freight Air Transportation | $12.2M |
| 237310 | Highway, Street, and Bridge Construction | $9.7M |
| 541519 | Other Computer Related Services | $9.4M |
| 541512 | Computer Systems Design Services | $8.6M |
| 221320 | Sewage Treatment Facilities | $7.7M |
| 541715 | Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) | $7.1M |
| 541511 | Custom Computer Programming Services | $6.2M |
How the numbers fit together
Wyoming's business applications rose 22.6% in 2025. The employer base has expanded since 2019, with establishments up 15.1% and employment up 1.3%.
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.