When Tracey Richardson and Kellye Wicker took over their father's culinary legacy, they didn't open another Rib Shack—they transformed decades of family flavor into Lillie's of Charleston, a Lowcountry sauce and spice company now sold in major grocery chains, airports, and across Amazon. Their story mirrors something happening across South Carolina right now: small businesses are becoming the engine of the state's economic growth, and they're doing it without the marketing budgets of multinational corporations.
Small businesses make up 99% of all businesses in South Carolina, yet their impact extends far beyond sheer numbers. Between March 2023 and March 2024, these enterprises generated 25,358 net new jobs—accounting for 71% of the state's total job growth. That means nearly three-quarters of new employment opportunities in South Carolina came from companies small enough to fit in a single office or, like Lillie's, run entirely by a family team. These aren't abstract statistics: they represent 863,326 South Carolinians earning paychecks from small business employers, making up 43% of the state's workforce.
The growth trajectory tells an encouraging story. Since 1998, small businesses in South Carolina have increased by 21%, outpacing the broader economic trend even as the state's population grew by 40% in the same period. Of the 530,402 small businesses across the state, 83% operate with no employees—solo entrepreneurs—while 98% have fewer than 20 workers. These are genuine small operations, often run by people who bet everything on a single idea.
Yet growth alone doesn't tell the full story. Frank Knapp, president and CEO of the South Carolina Small Business Chamber of Commerce, has spent 26 years advocating for these entrepreneurs, and he's witnessed the same obstacles year after year: access to affordable capital, rising energy costs, and the crushing burden of health care expenses. Richardson echoed this frustration, noting that while South Carolina offers genuine advantages for manufacturing and headquarters locations, "there's not a lot of options" for affordable health coverage, with "very high thresholds" that make it nearly impossible for small business owners to protect themselves and their employees.
The challenges vary by region. Manufacturing sectors are thriving in parts of the state, while retail and agriculture are struggling harder. Urban areas show robust small business activity, but rural regions require more focused attention to maintain economic vitality. Melissa Lindler, the SBA's district director for South Carolina, frames the central tension clearly: capital remains the primary bottleneck. Business owners are trying to navigate tomorrow's decisions today without always having the financial tools to do so.
Yet there's cause for optimism in Knapp's assessment. "In general, small businesses are healthy, and their numbers are growing in South Carolina," he says. The sector isn't just surviving—it's expanding. Founded in 1953 in the post-World War II era to help returning veterans build wealth and opportunity, the Small Business Administration continues its original mission today: connecting entrepreneurs with the information and capital they need to grow. For the Wickers and Richardson, that support matters as they launch new product lines like their recently added popcorn. For South Carolina's broader economy, each small business that opens its doors represents a commitment to local jobs, community stability, and the kind of wealth-building opportunity that makes an entire state more resilient.