Economic analysis reported by the Small Business Administration shows that small companies “create more than half of the nonfarm private gross domestic product (GDP)” and “employ just over half of all private sector employees.” That level of economic impact makes encouraging small business economically important to government officials.
Interest in how small business friendly states are has led a number of think tanks to rank states on the favorability of their small business policies. One example is the Small Business and Entrepreneurship Council (SBEC), which put out its Small Business Survival Index 2010 earlier this year.
According to the SBEC, South Dakota is the most small business friendly state. And to attract and nurture small business, other states should adopt South Dakota-like policies.
To read the full, original article click on this link: Is South Dakota the New Small Business Mecca?
Author: Scott Shane
