North Dakota Ranks High for Entrepreneurs | Video

Alex Hagan | 10/15/2012

We all know North Dakota`s economic activity is among the best in the country. Whether it`s the unemployment rate that`s around three percent or being the nation`s number two oil producing state, North Dakota is on the move. Now another admirable ranking has come out. The Business Bureau of the University of Nebraska recently released a study regarding state entrepreneurship and as you would expect, North Dakota is close to the top.

Rachel Allerdings and Lisa Fride both operate their own businesses in Bismarck. After plenty of hard work, both stores are flourishing.

"It`s been a great, great dream come true. I love being downtown Bismarck owning a bakery," said Allerdings, who owns Sweet Treats.

"We are one of the up and coming shops in the Midwest. We`ve had a lot of opportunities. We`ve been flown to Salt Lake City and to California by Vans and actually go to do some research and look at their products before they actually came out on the market," said Fride, who manages Savvy Skata and Snow Shop.

Their success is just a microcosm of what is happening in North Dakota these days. While many consider economic activity based on unemployment rates and job growth, entrepreneurship is a large contributor as well.

"It`s been a really good change. I think for North Dakota, the good comes with the bad, but i`ve seen a lot of great people support downtown and especially downtown Bismarck because it`s changing so much," Allerdings said.

North Dakota is ranked as number two in the country for national entrepreneurship. The ranking is based on total employer establishments and business income, which the state ranked in the top five for both.

"Certainly it means more jobs for North Dakotans. More economic activity and for the state more tax revenue and I think overall an improved quality of life," said Justin Dever with the Department of Commerce.

The state had almost a four percent increase in total businesses in the past year. For some business owners, the high ranking comes as no surprise.

"We have that spirit perhaps here in North Dakota that we want to do it and we`re going to, so I think that`s something to embrace and something I hope to see more of in the future," Fride said.

And North Dakota will likely continue to be recognized for it`s economic growth.

North Dakota moved up eight spots from the last ranking to come out in 2010. Massachusetts was the only state above North Dakota.

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