CT ranked least small business friendly state - WFSB 3 Connecticut

CT ranked least small business friendly state

Posted: Updated:
CT ranks last in small business study (WFSB) CT ranks last in small business study (WFSB)
HARTFORD, CT (WFSB) -

A new survey ranks Connecticut as the least friendly state when it comes to small businesses.

The new national survey done by the firm Thumbtack gave Connecticut an "F" in eight of 11 important categories seen as the top concerns for small business.

To get these grades, Thumbtack sought data from 12,000 respondents in 35 states.

The Thumbtack survey took input from people's perception of business regulations and taxes. The categories included ease of hiring, tax code, regulations and licensing.

Connecticut did score well with networking and training programs. The State’s Business and Industry Association said Connecticut's highly educated workforce is a boon. But, the only way business owners and experts said they feel the state can become small business friendly again is by lightening regulations and easing the tax burden.

Illinois, California, New York and Alabama rounded out the worst five states in the study.

According to Thumbtack, Texas, Utah and Tennessee are the friendliest small business states.

It is not the only business-related list where Connecticut has a bad ranking. The Tax Foundation studies the climate for all businesses from a tax perspective.

Connecticut ranks 44 on its 2016 index. Property taxes and corporate income taxes are among the highest in the country.

Petzold Marine Center has been in Portland for 71 years. The company was busy on Tuesday, but its owner said the business could have been busier. 

"Over past years you could either see growth or decline," Bob Petzold, who owns the Petzold’s Marine Center, said. "We're kind of at a hit or miss we go in spits or spurts." 

Petzold said he didn’t read the new Thumbtack survey, but knows that Connecticut is not good for small business. 

"We certainly have high workman's comp issues. We have high prop tax issues here," Petzold said. "We have high energy costs.”

Petzold said Connecticut is "competing with other states that have lower sales tax.” Petzold went on to say that he recently expanded his business in Rhode Island. He added he wanted to do it that in Connecticut, but, because of the state’s unfriendly business environment it’s not going to happen anytime soon. 

To read more on the study, click here

To view the full list of the least and most friendly states for small businesses on your mobile device, click here

Copyright 2016 WFSB (Meredith Corporation). All rights reserved.