Midlands Tops for Starting a Small Business
New report indicates Midlands entrepreneurs have an environment in which they can succeed.
No matter where you're located, starting a business is never easy. But some places are easier than others.
And, according to a new report by Thumbtack.com and the Kaufman Foundation, the Midlands region of South Carolina is the easiest place in the state to start a small business.
“After a two-month survey of over 6,000 small business owners nationwide, South Carolina comes out on top as one of the nation's best states to do business,” said Sander Daniels, co-founder of Thumbtack.com.
“Although there is room for improvement in some areas, the small businesses in the Midlands region seem to feel that they have an environment in which they can succeed,” he said.
Some of the key findings for the region and state include:
- Within South Carolina, the Midlands Region was the most supportive in terms of training programs.
- One of South Carolina's few weak categories was the friendliness of its tax code, for which it earned a 'B.'
- South Carolina has the second-best rating for the cost of hiring an additional employee.
- Surprisingly, women-owned small businesses in South Carolina were significantly more optimistic about their financial future than their male counterparts. Female entrepreneurs were 15 percent more likely than male entrepreneurs to rate their companies' financial situation as likely to improve over the coming year.
- Although South Carolina was in the top-third of states in the Southern region for current economic health, small businesses were bearish on its future prospects, rating it ahead of only Mississippi.
- It costs relatively little to hire a new employee in South Carolina — the state was the second-least costly place in the nation to hire a new employee.
- The weakest areas in the state are in training and networking programs, which earned the state its lowest scores, each receiving a C-plus.
To view the full report, click here.