Of course, the District of Columbia is comprised of a dense, urban area (compared to the mix of urban and rural areas found in most states) brimming with professional services businesses, which undoubtedly skews the numbers higher. Still, $90,000 is a high median income.
North Dakota ($60,602), New Jersey ($60,089) and Connecticut ($59,067) round out the first five on the list, while Alaska, California, New Hampshire, Rhode Island and Delaware complete the top 10, each with median incomes for small business owners north of $52,000. The median income nationally is $49,363.
Montana’s small business owners make the least, with median annual pay of $38,234. The only other state where self-employed individuals make less than $40,000 a year is Mississippi ($39,953).
The figures come from the SBA Office of Advocacy’s state profiles report, in which the department every year compiles a litany of information concerning the makeup and success of small companies in each state. Here are three other notable rankings from this year’s report.
The survivors: States where the highest percentage of small businesses survived from last year.
1. Washington state, 87.4 percent
2. Delaware, 84. 7 percent
3. Wisconsin, 83.1 percent
4. Connecticut, 82.1 percent
5. Utah, 81.8 percent
The exporters: States where small businesses are responsible for the largest share of total exporting value.
1. Washington, D.C., 78.7 percent
2. Montana, 70.8 percent
3. Florida, 68.6 percent
4. Rhode Island, 63.2 percent
5. Wyoming, 61 percent
The employers: States where small businesses employ the largest share of the workforce.
1. Montana, 67.6 percent
2. Wyoming, 62.3 percent
3. South Dakota, 59.2 percent
4. Vermont, 58.9 percent
5. North Dakota, 58.6 percent