BALDWIN COUNTY, Ala. — New business registrations across Baldwin County’s cities slowed modestly in November 2022, with 198 businesses registered during the month — about seven percent fewer than the 213 recorded the month before.
Fairhope led the county
Fairhope registered the most new businesses of any city in the county during November, continuing its role as one of the fastest-growing commercial centers on Alabama’s Gulf Coast.
The monthly figures track business registrations filed in Baldwin County’s municipalities and offer a rough gauge of local entrepreneurial activity as the county remains one of the state’s quickest-growing regions.
Small business drives Alabama’s economy
New registrations matter beyond the raw count. More than 99 percent of Alabama’s businesses are considered small businesses, and more than 47 percent of the state’s employees work for one, according to the U.S. Small Business Administration.
Research also suggests locally owned firms keep more money at home: a Civic Economics study found that $100 spent at a locally owned business returns $47 to the local economy, compared with just $13 for spending at non-local businesses.