Revenue for small businesses grew by nearly 20% across the country between January 2018 and January 2019. According to a recent Small Business Revenue Index, Vermont led this surge with an increase in revenue growth of 118.2% since January 2017.
Here are five reasons to consider starting a business in the Green Mountain State:
The state has a thriving tourism market, which serves nearly 13 million visitors each year. These visitors spend about $2.8 billion annually on lodging, food, drink, goods, and services.
There’s been an increase in the number of high-tech businesses launching in Vermont, and this is an area of growth that state administrators are looking to continue to support.
There’s significant lobbying activity in the Vermont Chamber of Commerce. Advocates are working to lower the cost of doing business in the state through permit reforms, streamlined regulations, lower taxes, and removing government mandates on businesses.
There’s strong support of the Vermont Small Business Development Center, which secured $21.4 million in new capital for its client businesses in 2018.
Vermont’s bond ratings continue to remain strong. As of July 2019, Vermont is rated Aa1 by Moody’s, AA+ by S&P, and AA+ by Fitch.
Learn more about Vermont workers’ compensation.
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