This week is National Small Business Week. It is celebrated the first week of May every year to honor and celebrate the entrepreneurs behind growing and creating small businesses. North Carolina is one of the best states to start a small business thanks to Republican led leadership and policies. Small businesses drive local economies. According to Site Selection Magazine, North Carolina is ranked number one for having the nation’s top state business climate in 2021.
“As a small business owner myself, I know how important smart tax policy and regulatory reform is to small businesses in NC. These businesses are the backbone of our state’s economy, and the life-blood of our communities. No one knows more than a small business owner the value of a dollar, the risk involved in entrepreneurship, the importance of being able to hire and retain good employees, and the joy in making a dream a reality.” Stated Representative Erin Paré who represents HD 37.
North Carolina currently has a low corporate tax rate of 2.5%, and plans to phase out corporate income tax to 0% by 2030. Forbes has ranked North Carolina a top spot for business three years in a row.