Study: North Carolina is best state for starting a business

As if you needed more evidence that North Carolina's bathroom laws have not hurt North Carolina's economy, a new study conducted by Fit Small Business, shows that North Carolina is the best state to start a business. Many left wing activists attempted to cultivate fear that these laws would make our state lose business, but there is simply no evidence to back those claims. 

More from Triangle Business Journals:

Entrepreneurs and business owners need look no further than the Tar Heel state to set up shop — North Carolina came out on top in a new study of the best states to start a business.

The study, conducted by Fit Small Business, cited the state's labor market and taxes as driving an ideal environment for business owners. Fit Small Business, out of New York City, says it provides research to help small business owners make wiser decisions.

The researchers used data from the U.S. Bureau of Labor Statistics, the Kauffman Foundation and the Small Business Administration to rank states on seven categories — access to capital, startup activity, taxes, cost-of-living, labor market, quality of life and cost of starting a business.

The study took corporate, individual income, unemployment insurance, property and sales taxes into account, ranking North Carolina 11th nationally for tax rates. At 3 percent, North Carolina's corporate tax rate is the lowest of any state levying a corporate tax, according to the Tax Foundation, and is set to be reduced to 2.5 percent beginning in 2019 after to the North Carolina General Assembly's latest budget.

 

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