California can hold many opportunities for entrepreneurs. However, it can also hold its share of challenges for businesses. This can be seen in California’s performance in a recent set of rankings by Forbes.
The list ranks the states based on how conditions in them are for businesses. A variety of different factors were considered in coming up with the rankings. California did not make it very high up this list. In fact, it was in the bottom half.
Specifically, it was given an overall ranking of 30th.
Now, this does not mean that California didn’t do well in any of the considered factors. It got a ranking of 4th in both the economic climate and growth prospects categories.
However, there were some other factors that California ranked particularly poorly in. Its two worst ranks came in the categories of business costs (43rd) and regulatory environment (45th).
So, it appears that costs and regulation are two common areas of challenge for California businesses.
Now, where a business is located is not the only thing that can impact the types of costs it ends up facing. Another is how it handles important legal matters related to its operations. Mishandling such matters could lead to a business facing much more in the way of expenses than it has to.
Mishandling regulatory issues is another thing that could get a business into a lot of trouble.
So, when it comes to trying to keep unnecessary costs down and handling regulatory matters, good legal advice is something a California business may very much want to have.