The Ocean State rates in the top ten of states with the highest opportunity share of new entrepreneurs.
While Rhode Island may be the smallest state when it comes to size (it only covers an area of 1,214 square miles) it has plenty of room for new businesses and franchises.
In fact, the Ocean State rates in the top 10 of states with the highest opportunity share of new entrepreneurs. While the state has seen its fair share of economic problems in the past, it has set in place several programs and incentives designed to help businesses thrive, including Small Business Capital Investment Tax Incentives. These incentives are available for small businesses and include Deductions or Modifications and Capital Gains Exclusion. Small businesses comprise 98.9% of all businesses in the state, so it only makes sense that the government would want to take care of them. Entrepreneurs who need more funding for their business can also take advantage of the Small Business Loan Fund Program (SBLF), which can get them up to $500,000 of working capital to help them level the playing field. Rhode Island is not only a place for businesses to grow and succeed, but it’s also a great place to raise a family.