05 July 2017

Guest Post: Texas Is 2017’s 2nd Best State to Start a Business – WalletHub Study

Texas Is 2017’s 2nd Best State to Start a Business – WalletHub Study

Washington (July 5, 2017): With President Donald Trump proposing to slash the corporate tax rate to 15 percent while startup activity trends upward for three years in a row and reaches pre-Recession levels, the personal-finance website WalletHub conducted an in-depth analysis identifying 2017’s Best & Worst States to Start a Business

To determine the most fertile grounds for planting and growing new ventures, WalletHub’s analysts compared the 50 U.S. states across 18 key indicators of startup success. The data set ranges from financing accessibility to availability of human capital to office-space affordability.  

Best States to Start a Business
Worst States to Start a Business
1
North Dakota
41
Arkansas
2
Texas
42
Alabama
3
Utah
43
Delaware
4
Oklahoma
44
Connecticut
5
Nebraska
45
Pennsylvania
6
Florida
46
Hawaii
7
Colorado
47
Rhode Island
8
Georgia
48
Maryland
9
Missouri
59
New Hampshire
10
South Dakota
50
New Jersey

Best vs. Worst

  • Iowa has the cheapest average annual rent for office space, $12.08 per square foot, which is 2.2 times cheaper than in New York, the state with the most expensive at $26.66 per square foot.

  • Mississippi has the lowest labor costs (median annual income), $39,665, which is 1.9 times lower than in Maryland, the state with the highest at $74,551.

  • Mississippi has the lowest cost-of-living index, 86, which is 1.9 times lower than in Hawaii, the state with the highest at 167.

  • Massachusetts has the highest share of the college-educated population, 40.5 percent, which is 2.1 times higher than in West Virginia, the state with the lowest at 19.1 percent.

  • North Dakota has the most startups per 100,000 residents, 205.92, which is three times more than in West Virginia, the state with the fewest at 69.68.


To view the full report and your state or the District’s rank, please visit:


About WalletHub:

WalletHub is a personal finance website that empowers consumers to make smarter financial decisions — from getting the best credit card and car insurance policy to identifying the best city to live and start a career. WalletHub does so by providing consumer-friendly tools that leverage big data and user reviews.

Media Contact: Diana Popa | media@wallethub.com



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2 comments:

  1. Very interesting, I guess my state is somewhere in the middle.

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    Replies
    1. I thought it was pretty interesting, too. I checked and your state is in the top 20. David was born in Georgia and GA is ranked #8. South Carolina is #38, so not a really good ranking. Oh well. At least it is a beautiful state. :)

      Thanks for stopping by and commenting. Have a blessed weekend.

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