North Carolina and Small Business Friendliness

Depending on the way it is measured, at least half of all workers are employed by small business and these firms account for two-thirds of all net new jobs. Thus, incentivizing the growth and proliferation of small businesses should be a key component of any state’s economic growth policy. Unfortunately, according to a new study by Thumbtack and the Kauffman Foundation North Carolina ranks the worst in the Southeast (Florida has the same ranking but beats North Carolina with many tax advantages).

The North Carolina legislature has made some improvements on easing some taxes and licensing, but many regulations and tax hurdles remain.  When each state that touches your border has a friendlier environment for small business development, there is cause for concern and those in Raleigh should take notice.