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States and Entrepreneurship

A study conducted by the Bureau of Business Research, a group of economists at the University of Nebraska – Lincoln, the 2010 State Entrepreneur Index, “evaluates a state’s percentage growth and per capita growth in business establishments, its business formation rate, the number of patents per thousand residents, and the gross receipts of sole proprietorships and partnerships per capita. States are ranked based on their performance compared to the nationwide average.” (quoted from the Inc.com article, How Does Your State Rank for Entrepreneurship?)

New_york

Who ranked the highest? No, it wasn’t California. (Oh! Gasp!) New York. Repeat. New York state. According to the published study results, “New York continued to hold the top rank thanks to its strong performance in gross receipts per capita and substantial improvement in two other components, growth in employee establishments and establishments per capita.” (The bolding is mine.)

Here’s the list of the top 10 States for Entrepreneurship:

  1. New York
  2. Washington (perhaps all the Microsoft-affiliated entities has something to do with this one? Just a thought. Absolutely NO research behind this.)
  3. Massachusetts (MIT graduates are significant innovators. Others innovate in Massachusetts -i.e., Zuckerberg founded Facebook while at Harvard- but MIT has a very high per capita percentage.)
  4. New Jersey (Is this related to the Jersey Shore? All that paraphernalia and branding? Just kidding!)
  5. Oregon
  6. Louisiana (An oil and gas & processing bastion. But wow, they’re ahead of Texas!)
  7. Illinois
  8. Oklahoma
  9. Texas
  10. New Hampshire

Wow! Where’s California and Silicon Valley? Perhaps the slammed real estate market depressed the numbers? California was #4 in 2008’s study but dropped to #13 in the 2010 study.

Comments anyone?

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About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.

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The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

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