Adams County ranked second best in state for small business

A study recently completed by SmartAsset lists Adams County as number two in Indiana for small business, behind only Hamilton County in Central Indiana. Five different factors within counties throughout Indiana were measured to determine this, including the proportion of people in a county with small business income, the reported business income, the amount of tax a potential resident must pay on their income, the five-year change of small business tax returns, and the five-year change of small business income.

Sources for the study, which measured both present data and the change over the past five years, include the Internal Revenue Service, the US Census Bureau, data collected by SmartAsset, and other Governmental Sources.

For Adams County, the best placed categories were small business returns and small business income where the data listed them third and second. The portion of people in Adams County who report Small Business Income was measured by the study at 26.68%, ranking only behind Hamilton and Lagrange County. The amount of small business income compared to the total reported income of the area measured out to 16.23%, which along with Daviess County (16.82%) stood over 3% higher than the next highest County.

Other Adams County metrics included the median income tax paid after applying the fees and deductions, which resulted in $9,984. The index scores for the 5-year change were much lower than other members of the top ten list.

The study took its five measurements, placed equal weight on their values and from there they determined their index numbers. The rankings for the County by index were:

1. Hamilton, 47.06

2. Adams, 47.05

3. Boone, 44.37

4. Daviess, 43.49

5. Lagrange, 42.71

6. Warrick, 39.57

7. Dubois, 38.97

8. St. Joseph, 37.90

9. Porter, 35.82

10. Lake, 35.38

The full results for each Indiana County along with their ranking is available at the SmartAsset website.