A new study analyzing data from the Better Business Bureau (BBB) has revealed which U.S. cities and states have the highest percentage of companies people trust.
States with the most trusted companies
The research was conducted by ZenBusiness and used data collected by the BBB, a non-profit organization focused on building trust in the marketplace. Their work is based on the principle that economies with more trusted companies can be more resilient during an economic crisis.
Before looking at ZenBusiness’s findings, it’s worth understanding the factors the BBB considers when assessing how trustworthy a company is perceived.
These factors include the number of complaints received, the company’s responsiveness to those complaints, and also how long they have been in business.
Most Trusted States and Cities
The key findings of the ZenBusiness survey found that the state with the most trusted businesses overall is North Carolina, with a score of 98.8%. They also found that four of the top 10 major cities with the most trusted businesses are located in Texas, the cities of which are San Antonio, Fort Worth, Dallas, and Austin. Boston was a bit of an anomaly, as it was the only city in the Northeast to make it into the top 10, with a score of 94.64%.
The ZenBusiness report stated, “Less populous states with smaller businesses that have been in business for longer generally have a higher percentage of trusted businesses. This includes North Dakota, Minnesota, Maine, Alaska, and Massachusetts, all of which rank in the top 10 .
“Within these states, the average company has been in business for longer than the national standard of 15.4 years. In contrast, in seven of the ten states with the smallest share of trusted companies, the average company has been in business for a shorter period of time than the national average.”
Trust as a driver of business growth
Other statistics from the Better Business Bureau include 82% of consumers in the United States who believe that trust is “the foundation of the purchase of goods and services.”
This statistic supports the idea that trust drives business growth, especially since 77% of respondents also said they only buy the products from companies they trust. Another 67% responded that they would recommend a trusted company to family and friends.
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