Category Archives: living well

Raleigh was ranked the best city in the state to start a business due to its labor market.

Entrepreneurs and business owners need look no further than the Tar Heel state to set up shop — North Carolina came out on top in a new study of the best states to start a business.

The study, conducted by Fit Small Business, cited the state’s labor market and taxes as driving an ideal environment for business owners. Fit Small Business, out of New York City, says it provides research to help small business owners make wiser decisions.

The researchers used data from the U.S. Bureau of Labor Statistics, the Kauffman Foundation and the Small Business Administration to rank states on seven categories — access to capital, startup activity, taxes, cost-of-living, labor market, quality of life and cost of starting a business.

The study took corporate, individual income, unemployment insurance, property and sales taxes into account, ranking North Carolina 11th nationally for tax rates. At 3 percent, North Carolina’s corporate tax rate is the lowest of any state levying a corporate tax, according to the Tax Foundation, and is set to be reduced to 2.5 percent beginning in 2019 after to the North Carolina General Assembly’s latest budget.

Raleigh’s educated population and its high-quality research facilities earned it the top spot among cities statewide for starting a business. More than 40 percent of Raleigh’s population over 25 held at least a four-year degree, compared to just over one-third of Americans nationally.

The state’s startup activity also ranked highly — a category that took the rate of entrepreneurs and the survivability of business into account.

But those looking for venture capital investments and small business loans may turn their attention elsewhere. The state was ranked 34th in “access to capital.”

The cost of starting a business, based on per capita income and median commercial rent per square foot per year, fared worse for North Carolina than a majority of states as well. Data from the Bureau of Economic Analysis reveals North Carolina’s 2016 per capita income of $42,002 lags behind the national average of $49,571.

In addition to North Carolina, Utah, Texas, Indiana and Montana rounded out the top five states for starting a business.

by:, triangle business journal

Here’s how North Carolina’s economy ranks among other states

Where does the Tar Heel State rank in terms of its economy, relative health and innovation potential?

A new report by WalletHub, the personal finance website,ranks North Carolina as the 15th best economy in the country overall.

WalletHub compared the 50 states and the District of Columbia, looking at 27 indicators of economic performance and strength. The data it examined ranged from GDP growth to startup activity, according to the report.

North Carolina, with an index score of 57.34 out of 100, also ranked 11th in terms of economic health and 12th for innovation potential. The state placed in the 24th spot in terms of economic activity. Those three categories were looked at to determine states’ overall ranking on the study.

The states with the best economies are Washington, California and Utah. Those with the worst economies are West Virginia, Louisiana and Mississippi, according to the report.

To see where other states come in, see WalletHub.

by: Jessica Seaman, Triad Business Journal

Survey finds Raleigh appealing for new grads looking for jobs

For recent graduates looking for a place to start their careers, the Triangle has a potent combination of good salaries and reasonable rents, according to a new survey.

Indeed.com and Trulia.com teamed up to take a look at markets that combined strong job opportunities and reasonable costs for housing. That’s a critical combinations for graduates, who don’t want to see their first pay checks disappear when the rent is due.

Some markets, such as San Jose and Washington, D.C., promise high salaries but also have extremely high rents.

That’s not the case in the Raleigh, Durham and Chapel Hill area, where rental listings on Trulia.com and job postings on Indeed.com looked promising for those starting their careers.

The survey looked at rental costs and also availability of jobs likely to attract recent graduates.

Money crunched the numbers of the top markets and then ranked them by salaries for new graduates. Yahoo’s survey ranked the Triangle No. 15 overall, with graduates making an average of $2,581 a month. That’s not a bad start in a market where Trulia said 9.8 percent of listings in Raleigh and 7.3 percent of listings in Durham-Chapel Hill were affordable.

Money ranked Houston No. 1 ($3,188), followed by Dallas at No. 2 ($2,925)

by: Dane Huffman, Triangle Business Journal