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Illinois 9th Best State for Entrepreneurs
Despite a bad reputation for its income tax increase, Illinois has been ranked 9th in the top 10 best states for entrepreneurs.
The research from the University of Nebraska-Lincoln measures five key components, including a state's percentage growth and per capita growth of business establishments.
Despite the state's tax rates and debt, Illinois is known for offering small businesses tax credits and other support programs to encourage them to call Illinois home.
We visited the Pekara Baskethouse in Champaign today to get advice from the owner, Ruzica Cuk, about how to be a successful entrepreneur.
She should know. She's an immigrant from former Yugoslavia, and when she moved to Illinois 19 years ago, she had only $600 to her name.
"I never thought in my mind, 'I am going to fail. This isn't going to work,'" Cuk said. "If something doesn't work when I get up in the morning, then I think, 'What will work?'"
She also said you can't get too comfortable with your technique. Be subject to changing and improving as the things around you are also changing.
We also spoke with an entrepreneur instructor from Parkland College, who said the keys to success are hard work, determination, perseverance, and an understanding that if one door closes, another can open.
According to the University of Nebraska-Lincoln study, the top three states for entrepreneurs in order are California, North Dakota, and Massachusetts.