05 20 2014

05 20 2014

The Best And Worst States For Business

As far as advancement goes, it takes more than strong access to working capital to survive in the world of business. Financial success is paramount to helping a business survive and thrive, but prosperity comes down to more than that, according to a survey conducted by Chief Executive. The survey, which gathered responses from more than 500 CEOs around the U.S., found that business success differs from state to state. Each year, Chief Executive asks CEOs for their opinions on the best and worst states in which to do business, asking individuals to rank workforce quality, housing affordability, living environment and tax and regulatory policies.

Best states for business boast low tax rates

Texas came in first overall for the 10th year in a row, while Florida came in at No. 2, increasing its ranking over last year due to its high quality living environment. Here’s the list of the top states in which to run a company:

1. Texas
2. Florida
3. Tennessee
4. North Carolina
5. South Carolina
6. Indiana
7. Arizona
8. Nevada
9. Louisiana
10. Wisconsin

Texas came in first place for multiple reasons. Due to more flexible tax and regulatory policies, businesses tend to set up shop in the Lone Star State, which recently became home to a number of prominent large and small businesses. Florida, meanwhile, has improved its living environment significantly over the past several years, making it a desirable place to live and work. Low tax rates also contributed to this rise in popularity among CEOs.

“We’ve learned from Texas how to tell our story better and it helps that we’ve cut taxes 25 times – about $400 million,” Florida Governor Rick Scott told Chief Executive. “When companies like Hertz, Amazon, Deutsche Bank and Verizon add jobs here, it causes more people to look at us. Business is comfortable that we’ll keep the tax base low and improve our workforce.”

High tax rates make for tough business climates

The worst states in which to conduct business remained largely the same as last year. The top three were:

1. California
2. New York
3. Illinois

Why did these states rank so low on the list? First, California’s real estate market is simply too expensive for many entrepreneurs, making it difficult to establish oneself in a competitive market. Furthermore, its tax rates are extreme compared to other states – its highest marginal tax rate stands at 33 percent, making it the third highest tax rate among industrialized nations.

“California likes to say that Texas can have all those low wage jobs,” Richard Fisher, CEO of the Dallas Federal Reserve said, “but from 2000 to 2012, job growth percentage change by wage quartile was better in Texas.”

While running a business in any of these states is difficult, most entrepreneurs don’t have a choice as to where they can start or stay in business. Those with families and other commitments can hardly risk everything they have by picking up and starting over in a more business friendly environment. For that reason, lenders like National Funding exist in order to help companies make ends meet in the increasingly competitive world of business.

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Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.


US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.


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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.


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