Virginia is Americas Top State for Business See the Top Ten

Author : Mark Thomas

According to a CNBC study, Virginia has ranked either number 1 or 2 for being business friendly every year since 2007, the first year the study was completed. This year, they take the number one spot again. Texas has changed positions with Virginia every year, being either number one or 2. No surprise, really. These states have strong economies, good infrastructure, business friendly laws and taxes and a long list of other positive qualities.

Who ranks the worst?

Rhode Island (50), Alaska (49), and Hawaii (48) hit the chart at the bottom of the list, mainly a result of the high cost of doing business and the high cost of living.

Who should do better? California and Nevada.

California boasts excellent infrastructure, and a top score for technology and innovation, as well as access to capital. So why is it ranked at number 32? If you look at business friendliness, cost of doing business and cost of living, California is among the worst. Its a shame, really. California finds every imaginable way to make it difficult for businesses. Just to file an LLC or Corporation in California takes over two months on average, while top ranking states like Texas, Colorado and Georgia can process a new business filing in as little as one day. And thats just to get started. California needs to get it together.

Nevada has long touted itself as a place for corporations, yet it ranks last on scores for education and the state economy. There is a new sheriff in town, however. Wyoming has surged in popularity for new LLC and Corporation filings and positioned itself as the place for business to be (at least on paper). They ranked 18th for education, and 2nd for the states economy. Nevada may have permanently lost its luster as a place for businesses to be.

It seems that some states have started to believe their own PR and forgotten that business is the backbone of a strong economy. Top states keep the cost of doing business low, focus on having an educated workforce, and are generally very business friendly. States that place a heavy tax burden on business and provide a difficult environment for them suffer economically. As businesses leave a state, so does a huge tax base, employment opportunities and future growth potential. If I were governor of a state that is outside the top 20, I would sit down with business owners and entrepreneurs and ask them what they want and need and then I would give it to them.

Top Ten-

1.Virginia
2.Texas
3.North Carolina
4.Georgia
5.Colorado
6.Massachusetts
7.Minnesota
8.Utah
9.Iowa
10.Nebraska

Mark Thomas has served in a wide variety of corporate and entrepreneurial roles and now enjoys mentoring those who want to start their own business by consulting on how to start a limited liability company or incorporate online. For more on these topics, visit us at EZonlineFiling.com