Upstate South Carolina has been “on the rise” for years. In 2025, the numbers suggest something stronger: the region’s small-business ecosystem is moving into a full-fledged growth phase.

In Greenville, Spartanburg, Anderson and surrounding communities, population gains, new investment and targeted small-business support programs are combining to create an unusually fertile environment for entrepreneurs.

South Carolina Is One of the Fastest-Growing States — and the Upstate Is at the Center

At a recent Axios Live event in Greenville, state Sen. Jason Elliott described South Carolina as “by percentage one of the fastest-growing states in the country,” with small businesses in Greenville “surging… like you wouldn’t believe.” Axios

Population data backs up the perception on the ground:

  • The Greenville metro population reached an estimated 576,000 in 2025, up from 568,000 in 2024 and 559,000 in 2023 — a steady growth rate of around 1.4–1.6% per year. Macrotrends

  • The broader Greenville–Anderson–Greer metro area now has roughly 975,000 residents, according to Census Reporter. Census Reporter

That inflow of residents is a key driver of local demand for services: from trades and home services to fitness studios, retail, hospitality and professional services.

Small Businesses Are Doing the Heavy Lifting on Jobs

Nationally, small businesses make up 99.9% of all U.S. firms and employ 45.9% of private-sector workers, according to the U.S. Small Business Administration’s 2024 Frequently Asked Questions About Small Business report. Office of Advocacy+1

The same publication notes that small firms are responsible for over 60% of net new job creation over time. Office of Advocacy

In South Carolina, the state-level numbers are striking:

  • Between March 2022 and March 2023, South Carolina saw 22,987 establishment openings and 15,269 closures, for a net gain of 7,718 businesses.

  • Small businesses accounted for 21,702 of those openings and 14,470 closures, meaning the vast majority of entrepreneurial churn involves small firms. Office of Advocacy

  • A 2024 state profile published by SBA Advocacy reports that South Carolina small businesses contributed a net increase of 54,695 jobs — 79.3% of the state’s total net job gains over the period analyzed. Office of Advocacy

In other words: when South Carolina adds jobs, it’s overwhelmingly small businesses doing the adding.

Spartanburg and Greenville Are Landing Big Investments

The Upstate’s economic story is not just about small shops opening quietly on Main Street. It’s also about sustained capital investment that supports both large employers and small suppliers.

In Spartanburg County, economic development organization OneSpartanburg, Inc. reports:

  • $745 million in new capital investment and 1,220 new jobs from 23 economic development projects in 2024 alone. Spartanburg.com

  • The previous year, $1.1 billion in capital investment and 1,146 new jobs spread across 24 projects, marking the third consecutive year Spartanburg County surpassed the $1 billion investment mark. Greenville Business Magazine

Alongside this, the Power Up Spartanburg initiative — funded by Spartanburg County and led by OneSpartanburg, Inc. — has worked with more than 2,200 entrepreneurs and small-business owners, with participating businesses reporting average revenue increases of $191,000. thewoodrufftimes.com+1

For local founders, this represents more than headline numbers. It signals:

  • A deepening ecosystem of suppliers, partners and service providers

  • Increased foot traffic and demand in revitalizing downtown districts

  • A growing local customer base with higher expectations for quality and professionalism

A Strong Climate — But Not Without Headwinds

Growth doesn’t mean the absence of risk. At a recent “Empowering Small Business: Strategies for Success” event hosted by Mastercard in Greenville, speakers emphasized a recurring set of challenges: access to capital, cybersecurity threats and the rapid rise of AI. Axios+1

Key takeaways from that event and related SBA and state data include:

  • Access to Capital: Large banks issued $1.6 billion in small-business loans (to firms with revenues of $1 million or less) in South Carolina in 2022 under Community Reinvestment Act reporting. Office of Advocacy While the headline number is positive, many small firms still report friction in securing affordable, growth-stage financing.

  • Cybersecurity: Mastercard and local stakeholders highlighted the growing volume of cyberattacks targeting small businesses, echoing national studies that find nearly half of all cyber incidents hit small firms. Axios

  • Technology & AI: While AI-powered tools are making it easier for small teams to manage marketing, customer service and operations, panelists stressed that human oversight is critical—especially to maintain trust and accuracy in customer-facing communications. Axios+1

What This Means for Upstate Entrepreneurs

Put simply, the Upstate is giving small businesses a rare combination:

  • Growing population and demand

  • Robust capital investment in the region’s economic base

  • Targeted programs like Power Up Spartanburg that support entrepreneurs with training, grants and access to lending

  • A strong cultural bias toward local small businesses, which national surveys show many Americans view as central to community life and economic resilience. NFIB – NFIB Small Business Association+1

For owners and founders in Greenville, Spartanburg, Anderson and nearby communities, 2025 is shaping up as a year where the fundamentals are strong — but the winners will be the businesses that combine this tailwind with smart execution: modern operations, strong financial management and serious attention to digital visibility and customer experience.