Posted: July 15, 2019
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These Are The Best And Worst States To Start A Small Business

Building a small business from inception to the point where its thriving and set up for long-term success is no small feat.

According to data from the Bureau of Labor Statistics, about 1/5th of all startups don’t survive to their first birthday. And nearly half will never make it to their fifth.

But as Wallethub points out, there are different reasons why startups fail. Among them, a bad location is one of the most commonly cited. But beyond situating the business in a popular thoroughfare, choosing the right state to launch your business can also make a huge difference in its odds of success.

States that offer the right conditions for success, such as access to cash, skilled workers, affordable office space and other factors, can be critical in helping a business thrive.

In a recent study, WalletHub compared the 50 states across 26 metrics for startup success, assigning each state a number in each category, then computing which states are the most business-friendly overall.

The results are hardly surprising: High-tax, Democrat-controlled states in the northeast offer some of the worst conditions for businesses, while low-tax states, Republican-controlled states in the Sun Belt have some of the best conditions.

See the complete ranking below:

  1. Texas

  2. Utah

  3. Georgia

  4. North Dakota

  5. Oklahoma

  6. Florida

  7. Arizona

  8. California

  9. Montana

  10. Colorado

  11. Idaho

  12. Washington

  13. Mississippi

  14. North Carolina

  15. Louisiana

  16. Kansas

  17. Minnesota

  18. Michigan

  19. Nebraska

  20. Tennessee

  21. Kentucky

  22. South Dakota

  23. Maine

  24. Indiana

  25. Nevada

  26. Oregon

  27. New Mexico

  28. Alaska

  29. Alabama

  30. Wisconsin

  31. Arkansas

  32. Missouri

  33. Wyoming

  34. Ohio

  35. Illinois

  36. Massachusetts

  37. Iowa

  38. South Carolina

  39. Virginia

  40. Maryland

  41. West Virginia

  42. New York

  43. Vermont

  44. Delaware

  45. Pennsylvania

  46. Connecticut

  47. Hawaii

  48. New Hampshire

  49. New Jersey

  50. Rhode Island

via Zero Hedge

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