Forbes has just come out with its ranking of "The Best States for Business". Southern states had a solid showing, with the top three spots going to Virginia, Texas and North Carolina.
To compile its "Best States" listing, Forbes ranked all 50 states on 30 metrics in six main categories: business costs, economic climate, growth prospects, labor, quality of life and regulatory environment.
North Carolina scored well in regulatory environment, growth prospects and business costs. However, the state ranked lower in labor, quality of life and economic climate.
CED tracks similar metrics with its annual Entrepreneurial Satisfaction Survey, which asks area entrepreneurs about the critical factors for starting and growing an entrepreneurial business.
Among the 2006 survey's most significant findings:
* The availability and retention of top management and qualified technical and non-technical talent again registered as the most significant factor for high-growth entrepreneurs (which mirrors findings from the 2001 and 2004 CED surveys).
* The proximity of research universities (#1), quality of entrepreneurial support organizations (#2) and overall quality of life (#3) ranked as the Triangle's greatest strengths.
* Access to venture capital, both in seed and expansion stages, is a high priority. While access to capital had declined in relative importance in CED’s 2001 and 2004 reports, financing sources regained importance in the 2006 study.
What do you think are the most important "business climate" factors in starting and growing a business?