Furniture is the main business in North Carolina, according to the North Carolina Department of Commerce. With 3,000 stores and more than 35,000 employees, the state has the highest concentration of furniture manufacturing activity in the country, which is more than three times the national average. Starting a business in North Carolina involves planning, making key decisions, and completing a series of legal steps. The state offers business support from many sources to help entrepreneurs get their businesses off the ground.
North Carolina is an employment-at-will state, meaning private sector employees can be fired without notice or reason. The state also offers corporate grant and loan programs to help businesses get started. Business owners will need an Employer Identification Number (EIN) to cover sales taxes, use taxes, payroll taxes, and any taxes on machinery or equipment that may apply to their business. As unemployment rates return to pre-pandemic levels and even fall below them, companies are competing for skilled workers and providing better compensation, benefits, and benefits in the workplace.
This has made it difficult for small businesses with limited resources to attract and retain top talent in a competitive labor market. The television program most associated with North Carolina is The Andy Griffith Show, which aired on CBS-TV from 1960 to 1968. The show was set in the fictional small town of Mayberry, North Carolina, but was filmed in California. According to Sperling's Best Places research on the cost of living, North Carolina is more affordable than the average state in all major categories except healthcare. However, North Carolina has been affected by relocation and industrial growth in countries such as China; one in five manufacturing jobs in the state has been lost to foreign competition.
To help small businesses succeed in this competitive environment, North Carolina has established several Small Business Centers across the state. Each center is dedicated to supporting the development and retention of small businesses, helping entrepreneurs do everything from drawing up business plans to navigating the state's tax code. In addition, the state is also home to well-known and established aerospace companies such as Honeywell, Spirit AeroSystems, GE Aviation and Lockheed Martin that conduct their business here.