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Deja vu: North Carolina begins year with top five business ranking

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(The Center Square) – North Carolina begins 2024 much the way it went through 2023: praises for a friendly business climate.

Forbes Advisor, using 18 key metrics in five categories, placed the state fifth among the best in which to start a business. North Dakota, Indiana, Arkansas and South Dakota took the top four spots, respectively.

The analysis, published Tuesday, noted the state’s $125 formation fee for small businesses, and a survival rate of 77%. Sixty-five percent of the state’s population is working age, which bested each of the other top five states.

Forbes Advisor also said, in part, of North Carolina, “A significant advantage for entrepreneurs is the business survival rate of 77%, suggesting a nurturing and stable environment for startups. This rate reflects the resilience and potential for growth of businesses in the state.

“Financially, North Carolina is poised to aid small businesses, offering an average funding of $22,019 via grants and incentives. This level of support shows the state’s investment in fostering entrepreneurial ventures. The cost-of-living index here is 0.96, aligning closely with the national average and ensuring affordability for business owners and workers alike.”

And in summary, it added the combined advantages make “it a practical and promising location for new businesses.”

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