B2B Payments

Which State Is Friendliest To Small Businesses?

The answer could come as a surprise to you.

According to Thumbtack.com’s annual Small Business Friendliness Survey, Utah, Idaho, Texas, Virginia and Louisiana gave their states the highest rating for friendliness to small business. However, small business owners gave California, Rhode Island and Illinois an “F.”

Thumbtack surveyed over 12,000 small business owners, and according to a company statement, the results will hopefully shed new light into the various small business environments across the nation.

Thumbtack Chief Economist John Lieber explained the findings in the company release.

“Creating a business climate that is welcoming to small, dynamic businesses is more important than ever, but rarely does anyone ask small business owners themselves about what makes for a pro-entrepreneur environment,” Lieber said. “Thousands of small business owners across the country told us that the keys to a pro-growth environment are ease of compliance with tax and regulatory systems and helpful training programs.”

When it comes to tax code and tax-related regulations, Idaho, Nevada, Texas and Utah were ranked the highest, while Illinois and California were two of the lower-ranked states. However, as a whole, two-thirds of respondents said they paid their “fair share” of taxes.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.


Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.

Click to comment