D.C. Ranks Last in Best Policies for Entrepreneurs
The District of Columbia holds the dubious distinction of coming in dead last in an index released this month ranking the most policy-friendly states for entrepreneurs.
In fact, the Small Business and Entrepreneurship Council's report mentions that D.C.'s rankings would have been even lower if the council had included the region in the studies on state liability systems, eminent domain legislation and highway cost efficiency.
The 12th annual Small Business Survival Index gives each state and the District an overall rating by tying together 31 government-imposed or government-related costs. The study looks at issues impacting small businesses and entrepreneurs such as state taxes on personal income, capital gains, sales, gas and property along with state regulation of issues such as health care.
The top three small business-friendly states were South Dakota, Nevada and Wyoming. Locally, Virginia ranked 9th and Maryland clocked in at 28th.
"The index helps political leaders and policymakers understand whether their state truly has an environment that is enabling to entrepreneurship and small business growth," said council President and CEO Karen Kerrigan in a statement. "Capital and labor are increasingly seeking more friendly terrain, and if a state is losing business and business investment, the Index can help leaders determine how they stack up -- both generally and in specific policy cost areas."
The report includes tables of its rankings of all states and the District of Columbia. A business owner or entrepreneur looking to set up shop in a particular state could benefit from pouring over the study's tax rankings of places they're considering doing business.
By Sharon McLoone |
November 9, 2007; 10:20 AM ET
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