Andrew Parker

Small Business Growth Tanks in These 25 ‘No-Go’ States

In many places across America, small shops and businesses are struggling. It doesn’t matter if they’re on the city streets or in rural towns because they’re just not able to grow. Today, we’re looking at 25 states where small businesses are suffering, whether it’s because of high taxes or something else entirely.

California

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In California, small businesses are getting too much sun and not enough growth. The state’s well-known for having lots of regulations for business owners, and that’s making things difficult. After all, nobody wants to deal with all that paperwork, which is forcing some people to think twice before starting something new.

New York

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Speaking of tough situations, New York’s high taxes are a major roadblock for small business owners. When you’re trying to make some money, handing over a big chunk of it because of taxes can seriously affect your growth. Some entrepreneurs are thinking about moving to more tax-friendly places to get started.

Illinois

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Across Illinois, people are suffering from the consequences of budget issues and economic problems, but it’s the small business owners who are really feeling the pinch. You can’t exactly plan for the future when you don’t know what’s around the corner. This uncertainty is making things pretty difficult for anyone looking to invest or expand.

Michigan

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Michigan has seen some better days as many people are moving away for new opportunities. It’s not exactly the busy marketplace that lots of people are hoping for. For small businesses, fewer people means fewer customers, which directly stops them from growing. It’s a truly vicious cycle, and there doesn’t seem to be any way out.

Pennsylvania

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The real issue for small businesses in Pennsylvania is the sheer lack of help from the government. There aren’t enough incentives like tax breaks or grants, which means that keeping the lights on is a whole lot harder for them. According to one report, the state created a $280 million tax break that was pretty much pointless.

New Jersey

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In New Jersey, the high cost of living is causing major problems for residents and small business owners alike. After all, it’s not easy to pay a salary to match the living cost when you’re struggling to pay your own rent. On top of that, utility costs are also on the rise, meaning that small businesses have to tighten their belts.

Texas

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Down in Texas, the problem doesn’t come from the spirit or the space but from the hands. There’s a real shortage of skilled workers, and many businesses are leaving job positions open, which slows down work. For small businesses, a shortage of staff makes it more difficult to meet customer demands and maintain a good quality of service.

Montana

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Montana is certainly a beautiful state with its wide-open spaces, but this is causing quite a few problems. All this space means being connected is difficult, and poor internet access is a huge issue for businesses that rely on online sales or digital marketing. This stops them from growing both their customer base and their businesses.

Florida

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Florida is famous for its intense weather, and a lot of small businesses are dealing with the high costs of insurance against it. They’ve got to plan their finances carefully to manage this. For lots of small businesses, this means cutting back on other essentials or finding more creative ways to lower the risks.

Washington

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For small business owners in Washington, the problem comes from trying to find affordable space. Real estate prices are through the roof, and it’s forcing many small business owners to rethink how and where they do business. Some are going remote, while others are trying to keep their dreams alive without breaking the bank.

Nevada

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When most people think of Nevada, they think of casinos, but the state government is trying to move away from this by welcoming more tech and green energy companies. Even though it’s a good idea, this change is happening way too slowly. Many small businesses are stuck in limbo as they wait for these new industries to expand.

Georgia

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In Georgia, the job market is a real challenge. Companies are pouring money into training because the people applying for jobs don’t always have the right skills to do them. This spending slows things down and also makes things much more expensive. It’s hard for these businesses to grow.

Missouri

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Missouri is dealing with some infrastructure issues, which are causing problems for small businesses that rely on smooth transport. The added costs of dealing with this or finding workarounds can quickly pile up. It’s taking more than a fair share out of many small businesses’ efficiency and profitability. 

Massachusetts

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Healthcare costs in Massachusetts are rising, and it’s affecting small businesses in more ways than you might think. They’ve got to offer good benefits if they want to attract good employees, but those benefits don’t come cheap at all. The price tag on health insurance means smaller profit margins and less wiggle room in the budget.

Colorado

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In Colorado, big companies are overshadowing the smaller ones, which forces them to find new ways to stand out. They’ve got to find that special something that no one else offers, which doesn’t always come cheap. Reports show that many business owners in the state are worried about how much regulation there is.

Alaska

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Just like its weather, the Alaskan economy is pretty unpredictable. Small business owners must be ready to adapt or completely change their plans when things get difficult, and this constant need to stay flexible can cause problems with their resources. On the plus side, it does make these entrepreneurs slightly more resilient than those in other states.

Arizona

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Since it’s a desert state, it makes sense that water is such a precious commodity in Arizona, especially for businesses that need a lot of it. They’re investing in technology to save water or even rethinking how they work just to keep surviving. Operation costs are too high for many agricultural and manufacturing companies.

Louisiana

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The real issue in Louisiana comes from the people, as rising crime rates are scaring off potential investors. This is making day-to-day operations even harder and more expensive since they have to spend more on security. Lots of small business owners don’t want to do both in this state because of the high overheads.

Hawaii

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Hawaii is the closest thing to paradise, but that comes with a cost. Energy prices here are through the roof, forcing businesses to pass on the operational expense to the customers. This stops a lot of customers from spending and limits business growth. Add in the fact that Hawaii’s cost of living is the highest in the country, and you’ve got a recipe for disaster.

Maine

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Keeping good staff isn’t easy in Maine because so many younger people are moving away, so there’s a smaller pool of qualified candidates. This means that businesses need to give their staff more benefits, like flexible schedules, instead of just good pay. Many businesses have to spend more on training or getting talent from other states, which only adds to the costs.

Mississippi

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In Mississippi, there aren’t enough local banks, so any businesses that need funding to expand will have to search far and wide. Lots of them miss out on growth opportunities simply because they can’t get the financial support they need quickly enough. This is causing issues for the state’s economy, too.

Vermont

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Vermont’s economy is always going through ups and downs, which is forcing companies to be smart about how they manage their money. After all, they need to keep cash flowing all year round. Lots of them are in a crunch during off-peak seasons, so they’ve got to spend money on innovating.

Oklahoma

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Like some of the other states, there’s a lot of red tape and paperwork in Oklahoma, which slows down business growth. It creates a delay that stops immediate business operations and also affects long-term planning. Many small businesses can’t complete their plans on time, which means they’re losing money and market opportunities.

Oregon

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There’s a lot of competition in Oregon, particularly in the craft beer market, which some people think is a good thing. But the issue’s that any new businesses have to really stand out with something special, so they’re spending a lot of money on being creative. Unfortunately, this means that some potentially great ideas never actually make it off the ground.

Idaho

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In Idaho, the problem comes from the lack of educational resources and training. Many schools in the state simply can’t teach students because they’re falling apart, which is affecting small businesses. After all, they can’t evolve and stay competitive when they haven’t got any staff skilled enough to do so.

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