New Study: South Carolina No. 25 Least Expensive State to Start a Business

(123rf.com Image)

A new study found South Carolina is the No. 25 least expensive state to start a business in 2025.

An unprecedented 25.6 million Americans have started their own businesses over the last five years according to the Census Bureau’s Business Formation Statistics.

Historically, about 20 percent of businesses fail within the first year, but startups in 2025 are facing a unique challenge with higher operating expenses following historic inflation.

Officials said the economic landscape has changed across the country and choosing a location where wages, rent, utilities, and taxes are reasonable could mean the difference between success and failure. 

Simplify LLC released a study on the Most and Least Expensive States to Start a Business in 2025 using the most recent data from the Bureau of Labor Statistics, Federal Reserve of St. Louis, Tax Foundation, Energy Information Administration, and others. 

The rankings were determined by analyzing nine key factors such as taxes, business filing fees, commercial rent and utilities, labor costs, regulations, and small business lending.

Key Findings:

No. 25 South Carolina: South Carolina is #8 in cost of labor, with an average annual wage coming out to $57,932. The state has a monthly commercial electricity cost of $531.08, as well as 83,372 regulations (#13).

South Carolina’s 5 percent corporate tax (#15 tied) pairs with $16.28 per square foot rent (#24) and an SBA lending rate of $7.98 million (#29).

However, LLC filing fees reach $135 (#37 tied) and labor force participation stands at just 57.6 percent (#47 tied).

10 Least Expensive: Utah, South Dakota, Colorado, Wyoming, Montana, Idaho, Nebraska, Kansas, Nevada, and North Dakota.

10 Most Expensive: California, New York, Hawaii, Tennessee, Massachusetts, Alabama, New Jersey, D.C. Illinois, and West Virginia.

MUSC Leaders, Partners Celebrate MUSC Health Kiawah Partners Pavilion Progress With Topping-Out Ceremony

MUSC Health leaders joined donors, construction teams and local government officials on March 10, 2025, for a topping-out ceremony to celebrate completion of the structural phase of the future MUSC Health Kiawah Partners Pavilion.

Officials said the pavilion represents MUSC Health’s commitment to enhancing community access and providing local care to the Sea Islands communities, as the area experiences significant population growth.

“We believe best care is local and that we need to lean in to help make this a reality for communities that we are part of,” said David J. Cole, M.D., president of MUSC. “Once open, this facility will be the first freestanding emergency room in the area and provide much needed access to primary care, plus cardiology and vascular care.”

In addition to the freestanding emergency room, the future 24-hour medical pavilion at 1857 Seabrook Island Road will include trauma and triage rooms, imaging and radiology services, an on-site lab and a helipad for critical cases.

The new medical office building will also offer services such as physical therapy, infusion and telehealth.

The 12,056-square-foot facility was designed by McMillan Pazdan Smith Architecture and is being built by Whiting-Turner Contracting Company.

Spartanburg Community College Announces First President’s List

 Spartanburg Community College announced that 288 students earned President’s List honors for Fall 2025.

2025 marks the first year of the President’s List, a milestone that highlights SCC’s commitment to academic excellence and student success.

SCC's President’s List is compiled by the Student Success Office and recognizes students who achieve academic excellence.

To qualify, a student must have a declared major, be enrolled in at least 12-semester program credit hours in the fall or spring or nine-semester program credit hours in the summer (excluding audit courses), and must earn a perfect 4.0-grade point average.

A grade of “I” automatically excludes students from the President’s List. Non-degree, Early College, and transient students are not eligible for the recognition.

“This achievement represents the hard work, dedication, and perseverance of our students,” said Michael Mikota, Ph.D., president of Spartanburg Community College. “We are incredibly proud of these scholars who have demonstrated an unwavering commitment to their education and future success.”

To see the students on the President’s List, go to myscc.info/PresidentsList.

Top Scams of 2024

Did you or someone you know report a scam to the Federal Trade Commission in 2024?

FTC officials say those reports help the agency bring enforcement cases and educate people about scams.

The officials say the headline is this: even though the number of fraud reports is roughly the same as last year, more people lost a lot more money to fraud.

According to the FTC, one in three people who reported fraud said they lost money (up from one in four last year), adding up to $12.5 billion (up $2.5 billion from 2023).

People lost over $3 billion to scams that started online, compared to approximately $1.9 billion lost to more “traditional” contact methods like calls, texts, or emails.

However, people lost more money per person (a median of $1,500) when they interacted with scammers on the phone. And, once again, imposter scams topped the list of scams reported, according to the FTC.

Here are some other things to know:

The biggest scam losses happened by bank transfer or payment. Among all payment methods, people reported losing more money through a bank transfer or payment ($2 billion), followed by cryptocurrency at $1.4 billion.

Investment scams led to big losses. A majority (79 percent) of people who reported an investment-related scam lost money, with a median loss of over $9,000. The $5.7 billion losses in this category are up about $1 billion from last year.

People reported losing money more often when contacted through social media. Most people (70 percent) reported a loss when contacted on a social media platform — and lost more money overall ($1.9 billion).

Job scams and fake employment agency losses jumped — a lot. Between 2020-2024, reports nearly tripled and losses grew from $90 million to $501 million.

Younger people lost money more often. People aged 20-29 reported losing money more often than people 70+. But when older adults lost money, they lost far more than any other age group.

If you see a fraud or scam, the FTC wants to hear about it: go to ReportFraud.ftc.gov.

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]