In 2017, the Green Mountain State\u2019s gross domestic product (GDP) was $19.3 billion, making it the second smallest among the 50 states. Some sectors that are vital to the state\u2019s revenue are the federal government ($3 billion), real estate ($2.6 billion), manufacturing ($2.2 billion), health care ($2.1 billion) and retail ($1.9 billion).<\/p>\n\n\n\n
Vermont has the 14th highest tax rate of the 50 states, particularly corporate and personal income tax rates. Factor in an inflated cost of living, exorbitant real estate, and high employee compensation, and many entrepreneurs have a hard time setting up shop in the state.<\/p>\n\n\n\n
However, Vermont\u2019s natural beauty, stable economy, strong community support, and reputation for outdoor recreation and healthy living are the reasons that small business owners continue to invest in the state.<\/p>\n\n\n\n
Let\u2019s have a look at some statistics on small businesses (SMBs) from the state of Vermont:<\/p>\n\n\n\n