Many factors can influence an entrepreneur's chances of success in starting a company. As in so many realms, it often comes down to location. Comparisun, which provides information to small and midsize businesses, has analyzed the 50 states to determine which ones offer the best environment in which to launch a startup. Analysts looked at five-year business survival rates between 2013 and 2018; business application growth; the share of residents who are new business owners; tax rates; college graduates in the area; labor costs, as measured by income per capita; and cost of living in each state. They gave a score of 100 to each factor, then combined the ratings to arrive at a final weighted score out of 100. The top 10 states had overall scores ranging from the low 60s to the upper 70s. By comparison, the states that provide the least attractive environment for entrepreneurs had overall scores in the 30s and 40s, and year-over-year negative new business application growth. Check out the gallery for the 10 states with the best environment for those looking to start a company, according to Comparisun. Related: |
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
