There are many aspects which create a top business. The startup must be amazing, the growth must be consistent and of course, the business must be secure. There is something else, however, that you may not have thought of before. Are you in the right place for your business to succeed?
There are categories which list the best and worst cities and states to build a business. Of course, you are going to want to be in the top five states in order to see maximum results, this is a no brainer. These top five states have the right mixture to bring any business to the top and keep it there, through consistency and perseverance. So where do you need to be in order to make it to the top? These 5 states are the best for entrepreneurs and their business ventures.
- Texas is the top state for entrepreneurs in the US, hands down, in the year 2014. Taxes and regulations, workforce and environment all rate well above national average. The unemployment rate is also below average coming in at 6%, which is below the country’s average of 6.7%. Education is also stellar in Texas, which gives rise to quality employers in the area. Top businesses include Exxon Mobile, Southwest Airlines and Dell.
- Florida comes in at a close second, with great elements in the business sector. The reason for Florida’s success may actually lie with its growing economy and positive attitude toward change. Florida is also considered a popular retirement state which keeps a lucrative customer base with the older generation-meaning stability and return business. Large successful businesses include Office Depot, Tech Data and World Fuel Services, just to name a few.
- Tennessee comes in third because of its high rate of manufacturing jobs. Around the Nashville area, high tech jobs are also plentiful. Although the rate of unemployment is below the national average by one percent, there are still many opportunities available for skilled employees. Businesses in the area include: The International Paper Company, FedEx and AutoZone.
- North Carolina falls into fourth place for many reasons. One of the most interesting facts stems from the state’s educational opportunities. Biotech sectors claim a huge percentage of North Carolina’s workforce. This is mainly the result from the educational investment that North Carolina made with the funds from the Tobacco Trust Fund. The state put $60 million into Biotech training which ensured quality employees and ample job opportunities for the state. Although unemployment is slightly over the national average, it is more than likely not due to the lack of opportunities present in the area. Top businesses include: Lowes, Bank of America and Goodrich.
- South Carolina, another giant in the manufacturing arena, came in at number 5 in top business states of the US. Living environments are great, taxes and workforce are commendable and there are plentiful opportunities for long term employment. Manufacturing jobs are also long term employment ventures. Notable companies are Sonoco, AVX and Scan Source.
Large businesses are doing well in these areas, as you can see. What about small businesses, you may ask? It is obvious that where large businesses thrive, small businesses are sure to catch on and flourish. Those who work long hours and stable positions are bound to do business at small establishments in the local areas. It is safe to say there are other areas where business and employment are above average, but these five states have a well-rounded and successful business climate and clientele. It seems being in the right place may just be a fast track to success.
If you are a small business consultant, then demonstrate your proficiency to prospect clients by becoming an Accredited Small Business Consultant through the Association of Accredited Small Business Consultants.