North Carolina Ranked Best State For Business Startups

CHARLOTTE, NC -- When it comes to finding a prime place to start a new business, labor markets and taxes make North Carolina the best state in the nation, according to a new ranking.

The state rankings are based upon their performance in seven categories: access to capital, startup activity, taxes, cost of living, labor market, quality of life and cost of starting a business, according to FitSmallBusiness.com.

The company said of North Carolina, “The Tar Heel State comes in at the #1 spot for states to start a business, as it dominated the two categories that we consider most important to starting a business: labor market and taxes. The state has high rankings in corporate and unemployment insurance taxes. Its labor market is flourishing as the state grabbed the 6th spot in location desirability. External job seekers are likely lured to the state by thriving businesses, a great sign for would-be entrepreneurs. North Carolina ranks 15th in both rates of new entrepreneurs and business survivability sub-categories.”

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Raleigh was ranked as the best city in North Carolina for starting a business because of it’s proximity to colleges and universities, and top quality research facilities.

Below are FitSmallBusiness’ Top 10 states and cities for starting a business:

1. North Carolina -- Raleigh
2. Utah -- Salt Lake City
3. Texas -- Austin
4. Indiana -- Bluffton
5. Montana -- Billings
6. Missouri -- Creve Coeur
7. Michigan -- Auburn Hills
8. New Hampshire -- Manchester
9. Washington -- Redmond
10. Massachusetts -- Cambridge

You can find FitSmallBusiness.com's rankings for all 50 states here.

Photo via Pixabay