A recent survey highlights some of the state’s lingering problems.
Minnesota’s
report card might look familiar: It’s the second time in just a few months that
the tax climate has received an F.
The
recent Thumbtack survey, which mirrors an earlier report card, polled more than
11,000 small businesses nationwide and ranked states according to the responses
from 18,000 small business owners. The new survey broke down results into two
categories: business friendliness and business sentiment.
For
overall friendliness, Minnesota received a C+, down from a B last year. In the
business sentiment category, Minnesota ranked 22nd in the nation as
small business respondents said they had a somewhat positive outlook in the
state.
Report Highlights
All
is not bad in Minnesota. In terms of business friendliness, the state got an A-
for its ease of starting a business and for training and networking programs.
That’s
doesn’t quite put Minnesota on the honor roll, though. In addition to the
aforementioned F for its tax code, the state received a D+ for regulations,
health and safety, environmental, and employment, labor, and hiring. Minnesota
also received a D for licensing.
Based
on 60 responses from the survey, here are Minnesota’s top five problems, ranked
from its biggest to lowest:
1.
Access to credit
2.
Cost/quality of labor
3.
Taxes
4.
Access to healthcare or health costs
5.
Interest rates
