North Carolina Business Opportunities
A Quick Glance at North Carolina
North Carolina, whose nickname is The Tar Heel State, first obtained its statehood in 1789. With a population of 9,848,060 people, North Carolina is the tenth most populated state in the United States.
If you are considering starting your new business in North Carolina, you might want to look into one of North Carolina's top three most populous cities - Charlotte, Raleigh (which is also the state's capital) or Greensboro.
Top Industry
The largest industry in the state of North Carolina is chemical products manufacturing.
- The gross domestic product (GDP), of this industry, is roughly $22.6 billion and accounts for 4.5% of North Carolina's GDP.
- Chemical products manufacturing also employs 0.9% of North Carolina's private workforce.
Small Businesses
In the United States, the more than 600,000 plus franchised small busineeses account for 40% of all retail sales and provide jobs for some 8 million people. According to the Small Business Administration (SBA), their standard definition of what constitutes as a small business includes a maximum of 500 employees or operations with and/or up to $7 million in revenue, depending on the industry.
- There are 1.6 million small businesses, in the state, of North Carolina.
- Small businesses in North Carolina, make up 32.5% of the state's private workforce.
State and Local Taxes
Listed below are the state and local taxes, for the state of North Carolina, and how they rank against other states in the U.S.
State Tax Rate | Avg. Local Tax Rate | Combined Rate | Combined Rank* | Max Local Tax Rate |
---|---|---|---|---|
4.75% | 2.15% | 6.9% | 24 | 2.75% |
*Combined Rank is rank from highest to lowest tax percentage |
California has the highest state tax rate in the United States at 7.25%, but Lousinana has the highest combined tax rate, overall, at 9.98%. Delaware, Montana, New Hampshire and Oregon share the spot for lowest combined tax rates at 0%.
Additional Information
If you need additional information about how to start a business in North Carolina, their official state page might be a good place to start. If you are looking to own your own established franchise in North Carolina, we have collected a comprehensive list of companies that are actively looking to expand in North Carolina, for you to explore.
References
- By Ken Thomas - KenThomas.us(personal website of photographer), Public Domain
- Census.gov
- Comparison between U.S. states and countries by GDP (nominal) from Wikipedia
- Largest Industry in Each State from 24/7 Wall St.
- Civilian Labor Force and Unemployment by State from the U.S. Bureau of Labor Statistics
- State and Local Sales Tax Rates in 2017 from the Tax Foundation
City and County Level
- Aberdeen
- Ahoskie
- Alamance County
- Albemarle
- Alexander County
- Andrews
- Angier
- Anson County
- Apex
- Archdale
- Asheboro
- Asheville
- Atlantic Beach
- Avery County
- Ayden
- Badin
- Bald Head Island
- Banner Elk
- Beaufort
- Beaufort County
- Beech Mountain
- Belhaven
- Belmont
- Belville
- Benson
- Bermuda Run
- Bertie County
- Bessemer City
- Bethel
- Beulaville
- Biltmore Forest
- Biscoe
- Black Creek
- Black Mountain
- Bladen County
- Blowing Rock
- Boiling Spring Lakes
- Boiling Springs
- Boone
- Brevard
- Bridgeton
- Brunswick County
- Buncombe County
- Burgaw
- Burke County
- Burlington
- Burnsville
- Cabarrus County
- Calabash
- Caldwell County
- Canton
- Carolina Beach
- Carolina Shores
- Carrboro
- Carteret County
- Carthage
- Cary
- Caswell Beach
- Caswell County
- Catawba County
- Chapel Hill
- Charlotte
- Chatham County
- Cherokee County
- Cherryville
- China Grove
- Chowan County
- Claremont
- Clayton
- Clemmons
- Cleveland County
- Clinton
- Coats
- Columbus
- Columbus County
- Concord
- Connelly Springs
- Conover
- Cooleemee
- Cornelius
- Cramerton
- Craven County
- Creedmoor
- Cumberland County
- Currituck County
- Dallas
- Dare County
- Davidson
- Davidson County
- Davie County
- Denton
- Dillsboro
- Drexel
- Duck
- Dunn
- Duplin County
- Durham
- Durham County
- East Spencer
- Eden
- Edenton
- Elizabeth City
- Elizabethtown
- Elkin
- Elm City
- Elon
- Emerald Isle
- Enfield
- Erwin
- Fair Bluff
- Fairmont
- Farmville
- Fayetteville
- Flat Rock
- Fletcher
- Forest City
- Forsyth County
- Foxfire
- Franklin
- Franklin County
- Franklinville
- Fuquay Varina
- Garner
- Gaston County
- Gastonia
- Gibsonville
- Goldsboro
- Graham
- Granite Falls
- Granite Quarry
- Granville County
- Green Level
- Greene County
- Greensboro
- Greenville
- Grifton
- Halifax County
- Harnett County
- Harrisburg
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- Henderson
- Henderson County
- Hendersonville
- Hertford County
- Hickory
- High Point
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- Holden Beach
- Holly Springs
- Hope Mills
- Hudson
- Huntersville
- Indian Beach
- Indian Trail
- Iredell County
- Jackson County
- Jacksonville
- Jamestown
- Johnston County
- Jones County
- Kannapolis
- Kenly
- Kernersville
- Kill Devil Hills
- King
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- Kinston
- Kitty Hawk
- Knightdale
- Kure Beach
- Lake Lure
- Lake Park
- Lake Waccamaw
- Laurel Park
- Laurinburg
- Lee County
- Leland
- Lenoir
- Lenoir County
- Lewisville
- Lexington
- Liberty
- Lillington
- Lincoln County
- Lincolnton
- Locust
- Longview
- Lucama
- Lumberton
- Macon County
- Madison
- Madison County
- Maggie Valley
- Maiden
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- Mars Hill
- Marvin
- Matthews
- Mayodan
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- Middlesex
- Mills River
- Mineral Springs
- Mint Hill
- Mitchell County
- Mocksville
- Monroe
- Montreat
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- Mooresville
- Morehead City
- Morganton
- Morrisville
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- Mount Holly
- Nags Head
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- Nashville
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- Newland
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- Northampton County
- Northwest
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- Oak Ridge
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- Onslow County
- Orange County
- Oriental
- Oxford
- Pamlico County
- Pasquotank County
- Pender County
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- Person County
- Pikeville
- Pilot Mountain
- Pine Knoll Shores
- Pinehurst
- Pinetops
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- Pitt County
- Pittsboro
- Pleasant Garden
- Plymouth
- Polk County
- Polkton
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- Ramseur
- Randleman
- Randolph County
- Red Springs
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- Richmond County
- River Bend
- Roanoke Rapids
- Robeson County
- Rockingham County
- Rockwell
- Rocky Mount
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- Rowland
- Roxboro
- Rural Hall
- Rutherford County
- Saint Pauls
- Salisbury
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- Scotland County
- Selma
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- Siler City
- Smithfield
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- Spindale
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- Stanley
- Stanly County
- Statesville
- Stokes County
- Stokesdale
- Stoneville
- Summerfield
- Surf City
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- Swansboro
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- Transylvania County
- Trinity
- Troutman
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- Unionville
- Valdese
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- Wake Forest
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- Waxhaw
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- Waynesville
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- Wilkesboro
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- Wingate
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- Yadkinville
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- Zebulon