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Bridgeport, a city in Connecticut, had a population of 149,654 as of 2020. Named the fifth-most populous city in New England, the city offers an array of business and economic advantages to businesses of all sizes. Bridgeport is bounded by bigger cities like Manhattan, which is about 60 miles away, and The Bronx which is about 40 miles away from it. Bordered to the North by Trumbull, west by Fairfield, and east by Stratford, the city is primed for business activities.
Being a former heavy industrial location, Bridgeport has gradually regained its economic stance by shifting from heavy industrialization to a rather service-based economy. The increase in service-based businesses has also tilted the population into sectors like education, healthcare, and finance, offering many Bridgeport CT Business Friendly Neighborhoods.
As Bridgeport moves towards offering more services to the community and the nation in general, finance, education, and healthcare have become the center focus. This is evident in the list of the largest employers in the area. Bridgeport’s primary hospitals, Bridgeport Hospital and St. Vincent’s Medical Center lead the employment numbers as the biggest labor employers in the area.
To better position your business for success, it is essential to understand what your competition is doing and whether you stand a chance against them. Many of the businesses in the area such as Bridgeport Digital Marketing company are small businesses with less than 100 employees. Being an active business community, you can expect to find many small businesses that serve the community’s diverse needs. Based on the number of employees and business size, below is vital information about the Bridgeport business climate.
According to statistics from this source, Bridgeport has a total of 82644 businesses. Each of the businesses varies in size based on their number of employees. Businesses with 1 to 4 employees account for 53% (44,052) of all businesses in the area. Those with 5 to 9 employees make up 18.8% (15,516) of the businesses in the area, those with 10 to 19 employees make up 13.7% (11,340), and those with 20 to 49 employees make up 8.8% (7,272) of the businesses in the area. Businesses with 50 to 99 employees account for 3% (2,592) while employers with a workforce of between 100 and 999 employees account for 2% (1,764) of the entire businesses in the area. Businesses with over 1,000 employees are a minute fraction of the entire business population in the area.
Explore the full list of industries and the number of businesses in them via this source to get an idea of the competition you’re likely to face establishing a business in the area.
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