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: |

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.