Starting a Small Business in New Hampshire

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

New Hampshire 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 New Hampshire 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. Property, Casualty & Direct Insurance (Revenue: $8.6 billion)
2. New Car Dealers (Revenue: $8.1 billion)
3. Public Schools (Revenue: $6.3 billion)
4. Hospitals (Revenue: $6.1 billion)
5. Health & Medical Insurance (Revenue: $5.8 billion)
6. Supermarkets & Grocery Stores (Revenue: $5.1 billion)
7. Colleges & Universities (Revenue: $4.7 billion)
8. E-Commerce & Online Auctions (Revenue: $3.7 billion)
9. Grocery Wholesaling (Revenue: $3.6 billion)
10. Gas Stations with Convenience Stores (Revenue: $3.5 billion)

New Hampshire Sector Statistics

When starting a small business in New Hampshire, 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 that contributed most to New Hampshire's GDP in 2022 were Real Estate, Rentals & Leasing; Manufacturing; and Professional, Scientific & Technical Services. Combined, these three sectors represented 39.2% of the state's GDP. In 2022, the sectors that contributed most to New Hampshire's GDP included:

1. Real Estate, Rentals & Leasing (Value: $12.1 billion* | Annual growth: 4.5%)
2. Manufacturing (Value: $9.1 billion* | Annual growth: 1.7%)
3. Professional, Scientific & Technical Services (Value: $8.2 billion* | Annual growth: 8.1%)
4. Healthcare & Social Assistance (Value: $7.5 billion* | Annual growth: 1.5%)
5. Wholesale Trade (Value: $6.3 billion* | Annual growth: 6.9%)
6. Finance & Insurance (Value: $6.2 billion* | Annual growth: 2.4%)
7. Retail Trade (Value: $5.6 billion* | Annual growth: 1.1%)
8. Information (Value: $4.9 billion* | Annual growth: 7.8%)
9. Administration, Business Support & Waste Management Services (Value: $3.1 billion* | Annual growth: 6.2%)
10. Construction (Value: $2.2 billion* | Annual growth: 2.4%)
11. Accommodation & Food Services (Value: $2.0 billion* | Annual growth: -18.5%)
12. Educational Services (Value: $1.6 billion* | Annual growth: -1.3%)
13. Other Services (except Public Administration) (Value: $1.4 billion* | Annual growth: -1.1%)
14. Management of Companies and Enterprises (Value: $1.3 billion* | Annual growth: -58.3%)
15. Transportation & Warehousing (Value: $1.2 billion* | Annual growth: 4.0%)

*Approximately

New Hampshire 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 New Hampshire included:

1. Hillsborough (Population: 422,000 | Annual growth rate*: 0.4%)
2. Rockingham (Population: 314,400 | Annual growth rate*: 0.5%)
3. Merrimack (Population: 154,300 | Annual growth rate*: 0.6%)
4. Strafford (Population: 133,000 | Annual growth rate*: 0.6%)
5. Grafton (Population: 91,100 | Annual growth rate*: 0.2%)
6. Cheshire (Population: 76,500 | Annual growth rate*: 0.2%)
7. Belknap (Population: 61,900 | Annual growth rate*: 0.3%)
8. Carroll (Population: 49,800 | Annual growth rate*: 0.7%)
9. Sullivan (Population: 43,300 | Annual growth rate*: 0.1%)
10. Coos (Population: 30,800 | Annual growth rate*: -0.6%)

*From 2017 to 2022.

New Hampshire Business Opportunities

We hope this snapshot of the New Hampshire economy helps as you investigate business opportunities in The Granite State! Starting a small business in New Hampshire is an exciting journey, and we know you're probably eager to get started. 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 New Hampshire below!