Best and Worst Cities to Own a Business

The sense of purpose that accompanies “being your own boss” is irreplaceable. Owners of small businesses typically choose the entrepreneurial route because they wouldn’t have it any other way. While this is an admirable trait, how often have you, as a small business owner, thought about your compatriots in other states? How does their quality of life overlap with yours?

Turns out, the perceived quality of life can vary drastically depending on the state you reside in. The Small Business Friendliness Survey measures 11 different metrics: overall small business friendliness; ease of starting a small business; ease of hiring a new employee; overall regulatory friendliness; friendliness of health and safety regulations; friendliness of employment; labor and hiring regulations; friendliness of tax code; friendliness of licensing regulations; friendliness of environmental regulations; friendliness of zoning regulations; and availability of helpful training or networking programs.

Each of these metrics are recorded and analyzed and the results posted. Lifehacker made a graph to accompany the report and had the following to say:

“For the third year in a row, Thumbtack and the Ewing Marion Kauffman Foundation asked small business owners (nearly 13,000 across the country) what their states’ entrepreneur environment is like. How easy is it to start a business, hire employees, follow the tax code, and so on? You can filter by these individual factors on the interactive map of the results, but, overall, business owners in Utah, Idaho, Texas, Virginia, and Louisiana rated their states highest for small business friendliness.

The three most important factors that determined how entrepreneurs viewed his or her location? Professional licensing requirements (at the local, county, state, and/or federal level), tax laws that are easy to follow, and the training and networking programs offered by government agencies for entrepreneurs.”

Check out the link to see where Colorado ranks and see if you feel the same way!

 

Original report- http://cdn-1.thumbtackstatic.com/media/_survey/friendliness-2014/friendliness_2014.pdf

Link to Lifehacker report w/ graph- http://lifehacker.com/the-best-and-worst-states-and-cities-to-own-a-small-b-1669828815