Governor Beverly Perdue: I am pleased to present the 2012 edition of North Carolina’s Annual State of Small Business, prepared by the Small Business and Technology Development Center, under the direction of our State Commissioner for Small Business. This report contains the most current information and data on small businesses in North Carolina.
It is clear that small business is actually big business in our state, providing about half of all private sector employment, and accounts for roughly 45% of our gross state product. Small businesses contribute enormously to the quality of life in North Carolina in so many other ways, such as offering first employment opportunities for many of our citizens, as well as supporting community and youth activities and events.
This past year we saw continued positive signs that North Carolina is recovering from one of the longest and most severe recession in our nation’s history. Job losses have been significantly reduced, new jobs are being created, and projections for continued economic recovery and reductions in unemployment are encouraging.
I am convinced that there are three leading factors which account for this more positive economic outlook for North Carolinians. First, my administration has been very aggressive in launching programs and initiatives aimed at creating and sustaining jobs, reducing governmental regulatory burdens, and improving access to capital. We continue to be among the top states in recruiting new businesses. A few of these are large multinational companies, but many are smaller firms, attracted here by our great location, willing workforce, moderate taxes, and great workforce training programs. We have also continued our focus on better serving the needs of existing small to medium-sized businesses and new business start-ups, under the leadership of our Commissioner for Small Business, as well as the very effective collaborations of the NC Department of Commerce, The University of North Carolina and Community College systems, and other leading non-profit support resources.
Second, North Carolina continues to be among the most attractive states in the country for businesses large and small. For instance, North Carolina is consistently highly rated by Chief Executive magazine as one of the best states for business. We are also consistently rated by the Council on State Taxation and Ernst and Young as among the states with the lowest state and local tax burdens on businesses.
Sustaining our favorable business climate works to our advantage and must be continued. Third, we have been able to attract and retain talented people – many of whom are, or will be, small business owners. Our steady population growth, among the highest in the country, has been fueled by the continued strong in-migration of talented people from other regions of the nation. This stands as the clearest testament that people elsewhere see North Carolina as a promising place to live, work, and build businesses.
As I travel across the state, I routinely seek out opportunities to meet small business owners. I thank them for their great energy and passion, and for enhancing the prosperity of their communities and our state. I welcome their ideas, and yours, about how we can make North Carolina an even better place to succeed in business.
Download the 2012 State of Small Business and Entrepreneurship here