See where Florida ranks among best states to start a business!

A recent study by WalletHub ranked the best and worst states for starting a business in the US. The study compared the 50 states on 27 key indicators such as business environment, access to resources, and business costs. The results showed that Florida ranked second, trailing only Utah and edging out Texas.

Florida was ranked first in the business environment category, which included metrics such as average length of work week, growth in small businesses, startups per capita, industry variety, job growth, GDP growth, and share of fast-growing firms. Florida was 14th in access to resources and 24th in business costs.

Utah was ranked first in access to resources, while Oklahoma took the top spot in business costs. Alaska was ranked the worst state to start a business, followed by Rhode Island, New Jersey, West Virginia, and Connecticut. West Virginia ranked last in both business environment and access to resources.

The best states for startups included Utah, Florida, Texas, Colorado, and Idaho, with Colorado and Idaho rounding out the top five. California managed to crack the top 10 due to its strong showings in business environment (No. 2) and access to resources (No. 2), but ranked 49th in business costs.

In conclusion, this study highlights the importance of considering various factors when choosing the best state to start a business. Entrepreneurs should consider the business environment, access to resources, and business costs to ensure their business has the best chance for success.

Best states for startups

• Utah
• Florida
• Texas
• Colorado
• Idaho
• Georgia
• Arizona
• Nevada
• Oklahoma
• California