Small businesses are a crucial part of the U.S. economy — more than 99% of the businesses in the country are small businesses — and their impact to local economies is just as important.
A new study from SmartAsset reveals the places in each state with the strongest small business presence. The study measures IRS data on the number of small businesses operating in each county, how much income they generate and what they pay in taxes.
For a closer look at the top performing counties in North Carolina, check out the table below:
| Rank | County, State | Small Business Returns | Small Business Income | Income Taxes | 5 Year Change in Small Business Returns Index | 5 Year Change in Small Business Income Index | Small Business Index |
|---|---|---|---|---|---|---|---|
| 1 | Dare, NC | 35.29% | 15.53% | $9,444 | 49.51 | 7.64 | 62.70 |
| 2 | Hyde, NC | 37.62% | 11.20% | $9,444 | 41.60 | 7.45 | 57.61 |
| 3 | Watauga, NC | 32.30% | 10.87% | $9,444 | 45.82 | 7.71 | 53.82 |
| 4 | Macon, NC | 28.77% | 12.00% | $9,444 | 48.07 | 8.96 | 52.99 |
| 5 | Buncombe, NC | 28.82% | 12.07% | $9,444 | 47.78 | 7.60 | 52.68 |
| 6 | New Hanover, NC | 28.00% | 12.19% | $9,444 | 48.75 | 7.59 | 52.37 |
| 7 | Orange, NC | 30.93% | 10.16% | $9,444 | 44.85 | 7.59 | 51.54 |
| 8 | Carteret, NC | 27.98% | 11.27% | $9,444 | 44.85 | 7.91 | 50.36 |
| 9 | Union, NC | 27.24% | 10.19% | $9,444 | 51.49 | 7.75 | 50.16 |
| 10 | Mecklenburg, NC | 27.20% | 10.12% | $9,444 | 50.23 | 7.75 | 49.73 |
The full methodology and interactive map can be found here: [LINK]