Business

The Best and Worst States to Start a Business in 2018

It’s true what they say– location is everything.

2 min read

Opinions expressed by Entrepreneur contributors are their own.

Location, location, location applies to more than just the real estate industry. In fact, where you start your business is one of the most overlooked but important decisions when building your company.

Comparing all 50 states in terms of business environment, access to resources and business costs, WalletHub set out to find why certain states were more nurturing environments for startups than others. After taking into consideration 25 key factors, including average work week length, startup survival rate, venture investment amount per capita, office-space affordability and others, WalletHub compiled a list of the best, and worst, states to start a business this year.

Related: The Best and Worst U.S. Cities to Launch a Business

The Wild West takes the lead, with Texas, Utah, Arizona and California all scoring a spot in the top 10. On the opposite end of the country (and list), New England had a rough go this year. Connecticut, New Hampshire, Maryland and Rhode Island all ranked as some of the worst states for entrepreneurs.

Move down the coast, however, and things start to look brighter (literally). The southeast was well represented, with Georgia and Florida snagging two of the top 10 spots.

Despite being one of the U.S.’s hottest travel destinations, Hawaii was titled the worst state for entrepreneurs in 2018. Though beaches and luau’s are nice, save them for vacation.

Here are the best states for startups in 2018, according to WalletHub:

  1. Texas

  2. Utah

  3. Georgia

  4. Montana

  5. Oklahoma

  6. Florida

  7. North Dakota

  8. California

  9. Arizona

  10. Colorado

Here are the worst states to start a business in 2018, according to Wallethub:

  50. Hawaii

  49. New Hampshire

  48. Rhode Island

  47. Pennsylvania

  46. West Virginia

  45. New Jersey

  44. Connecticut

  43. Maryland

  42. Alabama

  41. Wisconsin

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Entrepreneur: Startup

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