North Carolina Is A Great State To Start A Business In 2024
Is your vision for this year to finally pursue that business idea you’ve dreamed about? Well, here is a boost you might need to get started. WalletHub recently reported on the best states to start a business in 2024, and North Carolina ranked in the top 10.
“A state that provides the ideal conditions for business creation — access to cash, skilled workers and affordable office space, for instance — can help new ventures not only take off but also thrive,” WalletHub explained.
To determine which states are best to start a business this year, WalletHub dug deep into analyzing specific data. All 50 states were measured in 25 different relevant categories. Environment, resources, and business costs were among them. From there, total scores in each area were added together to create a final grade for each state. This then allowed for an official ranking to be compiled based on total scores.
North Carolina Ranked 9th Overall
The southeast region of the country faired quite well here with three states being in the top nine. North Carolina ranked slightly behind Texas at number 8. Tennessee then rounded out the top 10. The environmental category was where the Tar Heel State performed the best.
“Starting a business is a difficult and risky process, but where you live can highly influence your chances of success,” WalletHub said in a statement.
The North Carolina Department of Commerce recently detailed the key industries in the state right now. Biotechnology, energy, food processing, and manufacturing were among the ones mentioned.
Many great small business ideas came out of the pandemic. Whether it was home-cooked goods that evolved into a restaurant or construction services, many workers found their niche by pursuing passions with their time.
Given WalletHub has named North Carolina as a top ten state to start a new business in 2024, perhaps this movement will only continue and support aspiring business owners to launch their plan in their researched market.