Delco among best in Pa. for small shops, SmartAsset finds
Chester County tops the list
Delaware County ranked fourth best for small business in a recent survey done by SmartAsset.
Chester County came in first, based on the study, followed by Snyder and Juniata counties.
“Delaware County’s performance was especially strong in the Small Business Returns category (#10 in the state), and the Small Business Income Category (#8), which helped propel them to the top 10 in the state on the overall index,”
Steve Sabato, spokesman for SmartAsset, said.
He explained that the study used Internal Revenue Service data to help calculate small business presence, adding that IRS data provides the amount of tax returns in each county claiming small business income.
Based on the study, Delaware County small businesses experienced an average 21.31% return and income registered at 8.89%. Nearby Chester County small businesses were found to have an average 24.09% return with income at 9.82%.
The study found the average income taxes for small businesses in both Delaware
and Chester counties to be $9,352.
In 2020, Delaware County ranked fifth best for small businesses with a 21.45% return and income at 9.04%. Chester County was also first that year with a 24.65% return and 9.88% income.
Income taxes that year were an average $10,316 for both counties.
Reaching 75 million people monthly, SmartAsset is an online destination for consumer-focused financial information. For more information on the small business study: here.
SmartAsset has released this study four times previously from 2019 through 2022.