BEST MIDWEST STATES FOR ENTREPRENEURSHIP

SMALL BUSINESS SURVIVAL INDEX 2009

If small young businesses are to provide employment successfully ending the current recession, states with “friendly” entrepreneurial policies will be more successful in job creation and economic recovery.  How well do the Midwest states rank in entrepreneurial policy?   The Small Business Survival Index provides some information!

 

Both the Kaufmann Foundation and the Small Business Administration have shown the important role of small young businesses in creating jobs in the aftermath of a recession; claiming that 50% or more of the jobs created coming out of a recession originate from small young businesses. 

It seems logical that economic developers will take notice and focus recovery economic development strategy on the formation of, and growth of, small young businesses. 

However, federal, state and local policy influence “the cost of doing business”.  It stands to reason that states being “more friendly” will encourage new business formation and increase jobs at a faster rate that “unfriendly” states. 

The Small Business Survival Index provides comparative information to determine how friendly Midwest states are to entrepreneurship.

 

Small Business Survival Index

Midwest State Rankings

# 11    Ohio

# 15    Indiana

# 23   Michigan

# 24   Illinois

# 30   Wisconsin

 

 

Great reading for those wishing to gain a better understanding of how to assist entrepreneurship economic development.

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One Response to “BEST MIDWEST STATES FOR ENTREPRENEURSHIP”

  1. John Czarnecki Says:

    Small business creation should be a very strong component of any economic development organization. I would hope some of these small businesses turn into large businesses so they can provide jobs for others. Not everyone has the capacity to run their own business.

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