Starting a Small Business in Delaware

Welcome to the Small Business Startup Delaware Franchise Directory! Here, you’ll find everything you need to begin your journey to business ownership in The First State. If you’re considering starting a small business in Delaware, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Delaware Franchise Search Tool.

Delaware Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Delaware economy’s most significant industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries. 

1. Credit Card Issuing (Revenue: $13.7 billion)
2. Commercial Banking (Revenue: $12.4 billion)
3. Drug, Cosmetic & Toiletry Wholesaling (Revenue: $10.1 billion)
4. Hospitals (Revenue: $5.4 billion)
5. Meat, Beef & Poultry Processing (Revenue: $4.1 billion)
6. New Car Dealers (Revenue: $3.9 billion)
7. Life Insurance & Annuities (Revenue: $3.8 billion)
8. Public Schools (Revenue: $2.6 billion)
9. Real Estate Loans & Collateralized Debt (Revenue: $2.5 billion)
10. E-commerce & Online Auctions (Revenue: $2.4 billion)

Delaware Sector Statistics

When starting a small business in Delaware, gross domestic product (GDP) is another tool entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means that people are spending more money and creating more jobs.

The three sectors contributing most to Delaware’s GDP in 2022 were Finance & Insurance; Real Estate, Rentals & Leasing; and Manufacturing. Combined, these three sectors represented 54.7% of the state’s GDP. In 2022, the sectors that contributed most to Delaware’s GDP included:

1. Finance & Insurance (Value: $15.2 billion* | Annual growth: 0.9%)
2. Real Estate, Rentals & Leasing (Value: $12.4 billion* | Annual growth: 3.9%)
3. Manufacturing (Value: $5.0 billion* | Annual growth: 1.6%)
4. Healthcare & Social Assistance (Value: $5.0 billion* | Annual growth: 0.7%)
5. Professional, Scientific & Technical Services (Value: $4.4 billion* | Annual growth: 1.4%)
6. Retail Trade (Value: $2.6 billion* | Annual growth: -0.5%)
7. Management of Companies and Enterprises (Value: $2.1 billion* | Annual growth: 6.4%)
8. Construction (Value: $2.1 billion* | Annual growth: 1.4%)
9. Administration, Business Support & Waste Management Services (Value: $1.9 billion* | Annual growth: 5.6%)
10. Wholesale Trade (Value: $1.8 billion* | Annual growth: 1.8%)
11. Accommodation & Food Services (Value: $1.2 billion* | Annual growth: 4.9%)
12. Information (Value: $1.2 billion* | Annual growth: 2.1%)
13. Transportation & Warehousing (Value: $1.2 billion* | Annual growth: 3.5%)
14. Agriculture, Forestry, Fishing & Hunting (Value: $835 million | Annual growth: 5.7%)
15. Utilities (Value: $832 million | Annual growth: -3.9%)

*Approximately

Delaware Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. Doing so lets you decide whether a location is a good match for your target market. 

In 2022, counties with the highest populations in Delaware included:

1. New Castle (Population: 564,800 | Annual growth rate*: 0.3%)
2. Sussex (Population: 253,700| Annual growth rate*: 2.5%)
3. Kent (Population: 188,100 | Annual growth rate*: 1.2%)

*From 2017 to 2022.

Delaware Business Opportunities

We hope this snapshot of the Delaware economy helps as you investigate business opportunities in The First State! Starting a small business in Delaware is an exciting journey, and we know you’re probably eager to start. But remember, take your time to explore all your options. While you’ll always have the “opportunity” to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities,” and they offer several benefits, including the recognition of a well-established brand and a proven track record of success. 

To learn more, start by exploring franchise opportunities in Delaware below!