The Cost of Doing Business
The latest issue of Entrepreneur magazine has an interesting chart on "The 10 states with the highest cost of doing business in 2007."
There are no real shockers here, but it does serve as a reminder that our home state of Massachusetts is not the most business friendly one out there. In a few months we will have to file our annual statement with the Secretary of State, which will cost us $500. This is simply an online form that you fill out in about a minute.
We also incur expenses in the state of California related to the winemaking and other activities, so we obviously have exposure to that geography as well.
With many states on the ropes financially, small business owners and other business entities will likely continue to see costs of engaging in commerce increase. Higher fees, taxes, and other charges will be used to close budget gaps, all the while eating into the bottom line of businesses--some of which will make it and others that will not.
For a detailed look at this data for all states check out the source document by clicking the link below:
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