Ohio Ranked 9th among Friendliest States for Entrepreneurs

The Small Business and Entrepreneurship Council  (SBEC) released its 2010 ranking of the friendliest states towards entrepreneurs and small businesses.  The Index, which ranks states according to their public policy climates for entrepreneurship, placed Ohio in 9th position, ahead of other states such as California, New York, Georgia and North Carolina.  The report ranks the 50 states and District of Columbia according to what SBEC considers major government-imposed or government-related costs affecting investment, entrepreneurship and business.

The rankings are based primarily on a number of state taxes including personal and corporate income taxes, capital gains taxes, property and sales taxes. 

According to SBEC, the ultimate source of growth is economic risk-taking in the private sector, that is, investing and entrepreneurship. These crucial activities drive innovation, invention, efficiency and productivity in our economy. While consumers ultimately decide what works and what does not, entrepreneurs, innovators and investors will invest the capital – including sweat equity – and offer the ideas that launch and build businesses, create new jobs, and grow the economy.

For more information, see the full report: http://www.sbecouncil.org/uploads/SBSIIndexFinal.pdf