Nevada is the friendliest state in the nation for entrepreneurs

The Small Business Survival Committee (SBSC) has released its sixth annual rankings of states according to their respective policy climates for small business and entrepreneurship in the ”Small Business Survival Index 2001.”  

According to the study, Nevada is the friendliest place for small business owners to set up shop. In fact, it appears that the motto, ”Go West Young Man” could apply strongly to small business owners as Western states received the top four spots. Southern states also fared well, with five making the top ten friendliest places to do business in the rankings. 

SBSC chief economist Raymond J. Keating, author of the study, says the study ”offers a gauge by which to measure and compare how government in the states treat small businesses and entrepreneurs. Since small business serves as the backbone of the U.S. economy by providing the bulk of new jobs and majority of innovations, every state and local lawmaker should be concerned with the well-being of small business.” 

”In an increasingly mobile and competitive national economy, differences in government-imposed costs of doing business can make a huge difference between whether a state grows economically or falls behind,” adds SBSC President Darrell McKigney.  

The ”Small Business Survival Index 2001” ties together 17 major government-imposed or government-related costs impacting small businesses and entrepreneurs across a broad spectrum of industries and types of businesses-personal income taxes, capital gains taxes, corporate income taxes, property taxes, sales taxes, death taxes, unemployment taxes, health insurance taxes, electricity costs, workers’ compensation costs, crime rates, right to work status, number of bureaucrats, tax limitation status, Internet taxes, gas taxes, and state minimum wages. These measures are combined into one index number-the Small Business Survival Index. 

”The Small Business Survival Index manages to capture much of the governmental burdens impacting critical economic decisions-particularly affecting investment and entrepreneurship-state by state,” Keating says. ”The best policy environment for entrepreneurship consists of low taxes, limited government, restrained regulation, and government protecting life, limb and property. States following such a governing philosophy will reap great rewards from America’s entrepreneurs, including faster economic growth and increased job creation.” 

Following are the complete state rankings for the Small Business Survival Index 2001:

 

Rank                State                            SBSI Score

1                      Nevada                        27.060

2                      South Dakota               28.250

3                      Washington                  32.010

4                      Wyoming                     32.150

5                      Florida                         33.180

6                      Texas                           34.250

7                      New Hampshire           36.250

8                      Alabama                      36.830

9                      Mississippi                   38.160

10                    Tennessee                    39.540

11                    Colorado                     39.870

12                    Michigan                      40.205

13                    Illinois                           40.290

14                    Alaska                          40.880

15                    Virginia                        41.310

16                    Indiana                         41.820

17                    Missouri                      42.213

18                    South Carolina            42.520

19                    Louisiana                     43.304

20                    Arizona                        44.178

21                    Massachusetts              44.755

22                    Pennsylvania                44.880

23                    Georgia                        45.350

24                    North Dakota             45.379

25                    Arkansas                     45.420

26                    Idaho                           45.590

27                    Maryland                    46.310

28                    Oklahoma                    46.920

29                    Delaware                     46.950

30                    Wisconsin                    47.380

31                    Nebraska                    48.430

32                    Kentucky                    48.610

33                    Connecticut                  48.830

34                    Utah                             49.242

35                    North Carolina            49.590

36                    Oregon                         50.010

37                    New Jersey               50.360

38                    Montana                      50.979

39                    Iowa                            51.073

40                    Ohio                             52.870

41                    West Virginia             53.120

42                    Vermont                     53.514

43                    New York                54.005

44                    California                      54.860

45                    New Mexico             55.410

46                    Minnesota                   55.890

47                    Kansas                         55.980

48                    Maine                           56.150

49                    Hawaii                          57.235

50                    Rhode Island               59.011

51                    Dist. Columbia            65.335

 

For a copy of the “Small Business Survival Index 2001,” visit SBSC’s website at www.sbsc.org. SBSC is a national nonpartisan, nonprofit small business advocacy group headquartered in Washington, D.C.