More individuals look to incorporate in Texas, as state crushes California and New York in entrepreneurship rankings



Exemplifying the vastly different economic philosophies of the three states, Texas far outranked rivals New York and California in the most recent Small Business Survival Index by the Small Business & Entrepreneurship Council.

The Lone Star State took the No. 3 spot in this year's rankings - far ahead of New York and California, which took No. 48 and No. 49, respectively. Texas was beat only by South Dakota (No. 1) and Nevada (No. 2).

The rankings are based on a number of considerations which include income and capital gains taxes, unemployment tax, healthcare regulation, electricity costs, crime rate, minimum wage and tort liability costs.

Interestingly, the rankings tend to match the population drops due to residents seeking better economic conditions elsewhere. In 2008, California netted a loss of 112,500 people, while New York saw a loss of 98,800 people.

David Boldt, a journalist and businessman, is one of the thousands of California entrepreneurs and businessmen who fled the state to incorporate in Texas.

"You can't do business in California on a low profit margin business model, because the cost of real estate disallows that," Boldt, who recently moved to Texas, told KETK News in Dallas.

Tags : ca, ny, small business management, taxes, tx
Posted: Dec 10th, 2010
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