Colorado ranks among the most entrepreneur-friendly states in the latest analysis of how policies affect small businesses.
Colorado ranks 11th in the 2016 Small Business Policy Index compiled by the Small Business & Entrepreneurship Council.
“Make no mistake. Tax, regulatory, government spending and other governmental performance and cost measures matter state by state. They have real impacts not only on entrepreneurship, investment, small businesses and their workers, but naturally therefore on the overall economy of each state,” said Raymond Keating, chief economist of the Small Business & Entrepreneurship Council.
The small business advocacy and research group takes into account a total of 50 performance, regulatory, spending and tax policy measures in calculating a combined score that offers state-by-state comparisons.
Colorado earned a score of 64.148, just 0.003 less than 10th-ranked Indiana.
Colorado fared well for its comparatively low gasoline and diesel taxes and workers’ compensation insurance costs as well as a light energy regulatory burden. On the other hand, Colorado has comparatively high levels of state and local government debt and a high minimum wage.
Nevada ranked first in the 2016 Small Business Policy Index, followed by Texas, South Carolina, Wyoming and Florida. The top 10 also included Washington, Alabama, Arizona, Ohio and Indiana.
California ranked dead last in the index, followed by New Jersey, New York, Minnesota and Hawaii. The bottom 10 also included Vermont, Connecticut, Oregon, Iowa and Maine.