The 7 Best States to Start a Business Ranking the states based on how friendly they are to entrepreneurs
When it comes to starting a business, the question of "where" can be just as important as "what," "why," and "how." Some states offer better business climates for entrepreneurs than others. And in today's economy, entrepreneurs need all the help they can get when launching a new business.
U.S. News decided to look at two comprehensive studies that take completely different approaches to measuring the friendliness of the 50 states to entrepreneurs: the 2008 New State Economy Index, by the Kauffman Foundation and the Information Technology and Innovation Foundation, and the Small Business Survival Index 2008, by the Small Business and Entrepreneurship Council.
They combined the rankings of these two studies to help come up with their list of the top seven states for starting a business. Click here to learn what they found.
SBE Council chief economist Raymond J. Keating, author of the study, said: "The U.S. economy is in a serious downturn, and the outlook for a robust recovery seems remote. That means state and local policymakers face some very difficult decisions, especially on budget matters. Depending on the policy course that state lawmakers choose, they can either make the economic situation in their own state better or far worse."
In terms of their policy environments, the most entrepreneur-friendly states under the "Small Business Survival Index 2008" are: 1) South Dakota, 2) Nevada, 3) Wyoming, 4) Florida, 5) Washington, 6) Texas, 7) South Carolina, 8) Alabama, 9) Virginia, and 10) Colorado. The more difficult state policy environments for entrepreneurs include: 40) West Virginia, 41) Hawaii, 42) Iowa, 43) Vermont, 44) Massachusetts, 45) New York, 46) Minnesota, 47) Rhode Island, 48) Maine, 49) California, 50) New Jersey and 51) District of Columbia.
What CEOs are saying about Nevada When Development Counsellors International (DCI) conducted its survey last summer, CEOs ranked Nevada as the 5th best business climate in the U.S. Click here to read what CEOs are saying about Nevada. To download a copy of the full report, visit DCI's website by clicking here.
GLOBAL TRADE International Offices and Representatives The Nevada Commission on Economic Development has established international representative offices to assist in the state’s global trade and investment efforts. For more information please call (800) 336-1600.
NORTHERN CHINA Mr. Travis Lu US Contact Information:
WTO-USA 6767 W. Tropicana Ave, Suite 218 Las Vegas, Nevada 89103
China Contact Information: Number 188 Li Tong Road North Pearl Building, Room #1912-15 Changpin District Beijing, China 102218 Phone: 86-105-860-7628 Fax: 86-105-860-7925 Email: [email protected]
Mr. Lu is the president and CEO of WTO-USA Commerce Development Consulting Group, Inc.WTO-USA works to bring all qualified U.S. products, marketing and development to China and assists Chinese companies to establish international branch offices in Nevada.
Mr. Lu has 16 years experience in tax and finance and is a Certified Senior Advisor, Investment Advisor and Tax Accountant in the United States and he opened a branch office in China 2002.Mr. Lu has developed strong and unique friendships with local governments and solid business relationships with many business entities.
HONG KONG, MACAU & SOUTHERN CHINA Mr. William Ng Aquiline Project Services Limited Room 1005, 10/F, Nanyang Plaza 57 Hung To Road, Kwun Tong Kowloon, Hong Kong
Mr. Ng is the Managing Director of Aquiline Project Services Ltd. – a transportation company for project related cargos being imported to and exported from China.The company also serves as a marketing and public relations company representing the Port of Los Angeles, Los Angeles World Airports and Los Angeles Convention and Visitors Bureau.He is also the Managing Director of Air Tiger Logistics (Hong Kong) Ltd. – an international logistics company with affiliates in more than 65 countries around the world.
ITALY Mr. Miriano Ravazzolo US Contact Information: InterConnekt 1836 Resistol Drive Reno, Nevada 89521
Italy Contact Information: InterConnekt Via Einaudi 6 36030 Costabissara, Italy
Miriano Ravazzolo is the founder and president of InterConnekt, LLC, a consulting company dedicated to serve American Companies willing to export in Italy and vice-versa. Mr. Ravazzolo has more than 20 years of experience in Italy and Europe, as an executive and entrepreneur. With his experiences, he has been general manager of R&C Italia, managing director of Zhermack SpA, and CEO of Zhermack, Inc., in the United States. He has a real and hands-on knowledge of the practices on both sides.
JAPAN Mr. Jonathan Kaji US Contact Information: Kaji &Associates 18527 So. Western Ave., #15 Gardena, CA 90248
Japan Contact Mr. Dai Takagi, Intercast Corp. 2-10-4-601 Nishi-AzabuMinato-ku Tokyo 106-0031, Japan Phone: 81-3-5464-0556 Fax: 81-3-5464-0557 www.intercast.co.jp
Mr. Kaji is the founder and President of Kaji and Associates – a Japanese trade representative organization.
Previously, Mr. Kaji was the Director of the California Office and Trade and Investment where he was responsible for more than $1.9 billion in foreign direct investment and trade between California and Japan.Mr. Kaji is a former member of the President's Export Council under President George H. Bush.He is a graduate of the University of Southern California and also attended Waseda University and Sophia Univesity in Tokyo, Japan.
MEXICO Mr. Vince Lencioni LGA Consulting Cerro de las Campanas No. 3 Suites 102 & 103 San Andrés Atenco 54040 Tlalnepantla, Estado de México, MEXICO
Mr. Lencioni, an attorney with 18 years of Mexican business experience, is founder and Senior Partner of LGA Consulting, a business consulting firm with offices in the greater Mexico City area.LGA Consulting is focused on assisting US & foreign companies from almost all sectors export, sell and do business in Mexico. The firm has business consultants, accountants and attorneys – all with business experience and bilingual capabilities - to serve our clients.
LGA Consulting has extensive experience in working with US exporters and investments, and offers a broad array of sales and business services for foreign companies related to sales, distribution, operations, customs, standards, collections, financing, accounting, lobbying, investment, sub contracting, and market viability issues and Mexico strategies.In general, LGA Consulting can help with almost any legal, fiscal, technical trade or business development service for the Mexican market.
SINGAPORE (Also covers: Indonesia, Malaysia, Thailand and Vietnam) Mr. K.C. Tan Piers Resource & Services Pte Ltd 8 Penjuru Place, #01-382-8 , Penjuru Tech Hub Singapore 608780
Mr. Tan is the President of Piers Resource and Services Pte Ltd. – a company that provides trade-related services as the agent and representative of the some of the world's major ports and shipping organizations including the Port of Los Angles, Port of Hamburg, American and European shipyards, Panamanian and Suez agencies.The company also has a shipping agency division.
Mr. Tan's career began with Sembawang Shipyard Singapore as a management trainee.He was promoted to the marketing department and then later worked for Inchcape Shipping Services as a marketing manager.During his career at Inchape, Mr. Tan was assigned to their Stanford, Conn. office to solicit business for their worldwide offices.He holds a Bachelor of Science degree in naval architecture and ocean engineering from the University of Glasgow Scotland.Recently, Mr. Tan was elected president of the American States and Ports Association in Singapore.
TAIWAN Ms. Charlyne Chen Info21 Data Media Group Taiwan World Trade Center 110, Room B13, 5F No. 5, Sec. 5, Shin-Yi Road Taipei, Taiwan
Ms. Chen is the CEO of Info21 Date Media Group – a company that provides trade intelligence information in Shanghai, Taiwan and Hong Kong.In addition to her duties as CEO, the Governor of Penghu, Taiwan, has appointed Ms. Chen as their official advisor on tourism and gaming.She also received the "Outstanding Young Entrepreneur of 2003" award given by Asia Week magazine in Hong Kong.
Ms. Chen is a first generation immigrant from the Republic of China.Her family owns a motel in LasVegas that she has helped operate since she was 14 years old.Ms. Chen attended Orr J. High School and Valley High School in Las Vegas.She attended UNLV and completed her degree at Call State Fullerton in California.
UNITED KINGDOM Mr. Trevor Bargh Charter Solutions 21 Castle Hill Lancaster, Lancashire United Kingdom LA1 1YN
Mr. Bargh is founder and CEO of Charter Solutions, an award-winning international consultancy firm focused on helping organizations achieve high growth and exceptional results.
Charter provides inspirational strategy, marketing and performance management consultancy to a wide range of public and private sector organizations in the UK and internationally.
Mr. Bargh has been developing business between the UK and the US for more than 20 years. Specifically, he has been involved in trade development, acquisitions, mergers, import and export strategies and market entry plans and has a strong network of high level contacts in both the UK and the US.He is also Chief Executive of CityBlock plc, an AIM listed property company.
He received the Management Consultancies' Association Gold Award for Best UK Marketing Practice 2005 and won the North West of England Chartered Accountants Entrepreneur of the Year.
