The Best Place To Be A Small Business Owner

Each city and each state in the U.S. has its own market climate and regulations that change the way a small business owner needs to operate to be a success in that location. A new survey has found where, exactly, SMEs are the most supported in the nation, and the findings could surprise you.

According to the Small Business Friendliness Survey, conducted every year, Texas, New Hampshire and Utah were ranked as the top three states that are most friendly to small businesses. Rhode Island and Illinois, on the other hand, were ranked as least friendly.

Reports in Accounting Today published Wednesday (Aug. 19) said that in a survey of more than 17,000 small business owners, analysts told respondents to rate their local state and city governments on several factors centered upon the regulatory climate. The three key characteristics of a small business-friendly state include training experience, tax rules and labor rules.

Small business owners said labor rules are 88 percent more important than tax rules when it comes to assessing a government’s support.

The research was conducted by Thumbtack, a local workforce hiring service, which has published the survey for four years in a row. According to the firm, the research is key to local governments assuring that their efforts support small business development.

Small business owners on Thumbtack have consistently told us that they welcome support from their governments but are frequently frustrated by unnecessary bureaucratic obstacles,” said Thumbtack Chief Economist Jon Lieber, according to Accounting Today. “Given that there is a crisis of entrepreneurship in the United States, seen in the broad collapse of self-employment across industries and states, creating the right environment for business startups is more important than ever.”

The top three cities for small business owners are Manchester, NH; Dallas, TX; and Richmond, VA. The bottom three cities are Hartford, CT; Albuquerque, NM; and Buffalo, NY.

[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][vc_single_image image=”150712″ alignment=”center” style=”vc_box_shadow_3d” border_color=”grey” img_link_large=”” img_link_target=”_blank” css_animation=”left-to-right” img_size=”full” link=”http://www.pymnts.com/tag/b2b-payments/”][vc_column_text]

To check out what else is HOT in B2B, click here.

[/vc_column_text][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][/vc_column][/vc_row]