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From biotechnology, pharmaceuticals and life sciences to wineries, nonwoven textiles and micro-electronics, North Carolina is a great place to start a new business. That�s according to new research on entrepreneurial activity in the United States. The survey, entitled A National Assessment of Entrepreneurship and Regional Economic Growth and Development, was commissioned by the U.S. Small Business Administration�s Office of Advocacy and the Edward Lowe Foundation. It finds six of the Top 20 regions with the highest rate of growth for business start-ups are in North Carolina � Wilmington, Charlotte, Washington, Raleigh, Morganton and Hickory. In the category of the most innovative-entrepreneurial area, Raleigh ranks second only to Fort Collins, Colo. The study created indexes for 394 regions in the United States to rank their entrepreneurial and innovation activities. The survey defines entrepreneurship as new and growing businesses, and classifies innovation as research and development, patents and high-tech industries. "Clearly North Carolina is fertile ground for entrepreneurs and innovation," said Commerce Secretary Jim Fain. "These growing new companies provide good-paying, sustainable jobs that help improve the economic well-being of everyone in North Carolina. And innovation has always been a hallmark of this state." The Department of Commerce and its partners operate programs and initiatives to help small businesses across the state. The Business ServiCenter is a one-stop portal that provides the business community with start-up information, existing industry resources and state business regulations. The department�s regional economic development offices offer retention and expansion services to businesses in all areas. And Commerce partners, such as the Small Business Technology Development Center and Community College Small Business Centers, offer consultation, research and training for small and start-up businesses. The survey concludes that entrepreneurship and innovation are drivers in the growth of regional economies. This study infers that innovative regions need entrepreneurship to more fully develop local economies. More information about the survey is available by contacting the Small Business Administration�s Office of advocacy at (202) 205-6533 or [email protected]. (Image provided by WCU.)
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