Minnesota Business Magazine | Local Focus: South Dakota, a business-friendly neighbor

Our neighbor to the southwest, South Dakota, has a smaller population and an economy about one-sixth the size of Minnesota’s. But the two states have more in common than they have differences. The economic diversity that can serve as a buffer against negative national and international trends — long a Minnesota strength — is increasingly evident in South Dakota, which is gaining attention as one of the best places in the United States to start and grow a business.

Some of the state’s assets for businesses are naturally occurring phenomena, such as the solid work ethic often cited by employers, and some are the result of efforts by government and business leaders to create a business-friendly climate. In the latter category are a number of entrepreneur-support programs, providing access to financing, job training, and other assistance.