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December 12, 2014

South Dakota Named Top State for Entrepreneurs

South Dakota has again led all 50 states in the Small Business Policy Index, which ranks the states according to 42 different tax, regulatory and government spending measures deemed important to the success of entrepreneurs.

The 19th annual index was compiled and released by the Small Business & Entrepreneurship Council. After South Dakota, the index’s most entrepreneur-friendly states are: 2) Nevada, 3) Texas, 4) Wyoming, 5) Florida, 6) Washington, 7) Alabama, 8) Indiana, 9) Colorado and 10) North Dakota.

South Dakota's strengths, according the SBE Council, include:

  • No income, capital gains, dividends and interest, and death taxes.
  • Low property taxes.
  • Low number of health insurance mandates.
  • Lowest crime rate.
  • Right-to-work state.

The most negative policy environments for entrepreneurs are: 40) Rhode Island, 41) Connecticut, 42) Maine, 43) Iowa, 44) Oregon, 45) Vermont, 46) Minnesota, 47) Hawaii, 48) New York, 49) New Jersey, and 50) California.

“Policies clearly affect the environment for investment, entrepreneurship and small business growth. In order to compete for capital, human capital and business, many governors and state legislatures are pushing forward with policies to improve their tax and regulatory climates,"s aid SBE Council President and CEO Karen Kerrigan.

More on the Small Business Policy Index 2014 can be found at the SBE Council website.

Contact

Bryan Walker
Rushmore Region Economic Development Alliance
605.642.3832

Benjamin Snow
Rushmore Region Economic Development Alliance
605.716.0004

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