SAN FRANCISCO — Though California is often criticized for high taxes and red tape, it’s actually an attractive state for creating and sustaining successful businesses, according to a new report by the nonprofit, nonpartisan organization Next 10.
“California consistently outpaces the country in business creation, including small-business startups,” said Christopher Thornberg, co-author of the report and founding partner of Beacon Economics. “It also excels in job creation, both in terms of net new jobs and jobs at new firms. While the state continues to face some of the same significant economic challenges facing the nation as a whole, overall it offers a solidly pro-business environment.”
The report, based on relies on the U.S. Census Bureau’s Business Dynamic Statistics, found that in 2013, California ranked:
- fourth in job creation stemming from new business creation, with a growth rate of 5.5 percent
- fifth in creation of new businesses
- 10th in highest entry rate of small businesses of one to four employees, with small firms representing 19.1 percent of new enterprises
- fourth in total net job creation
Next 10’s Compare 50 website launched Thursday and provides to more than 100 big-data metrics for all 50 states. It shows strong growth for both new and existing businesses.
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