by Paige Terryberry
Senior Analyst for Fiscal Policy, John Locke Foundation
North Carolina continues to create businesses at a rapid pace. Thanks to conservative policies, more individuals are empowered to identify market opportunities and bear the uncertainty that comes with starting a business.
Some growth likely stems from closures caused by Gov. Cooper’s lockdown. Yet much of this is new growth. Secretary of State Elaine Marshall states, “These business owners are telling us in surveys that they see new opportunities to put money in their pockets and jobs in their communities. These are not folks who lost their jobs and have nowhere else to turn.” She continues, “March 2022 registered the third highest monthly total for new business creations since the Secretary of State first registered businesses in 1834.”
New business owners face many hurdles. In North Carolina, an attractive tax climate means fewer hoops for entrepreneurs to jump through. Business growth in the Tar Heel state is indicative of our structurally sound tax code from the past decade of fiscally responsible leadership.