Katharina Buczek
Despite COVID-19’s devastating effects on nearly every aspect of life, the coronavirus apparently did not crush Americans’ entrepreneurial spirits.
According to the U.S. Census Bureau, a record-breaking 5.4 million businesses were launched in 2021.
Even more shocking, this entrepreneurial boom is poised to continue, with 2022 projected to top last year’s record.
In an effort to nurture and inform future business owners, the analytics firm TOP Data has compiled an insightful list of the “best” and “worst” U.S. states to start businesses in.
TOP Data used eight key indicators to inform their rankings: affordability, crime and safety, economy, education, healthcare, infrastructure, opportunity, and quality of life.
Each of the categories was ranked using seventy-six specific metrics. Then, the eight categories were weighted and graded on a one-hundred-point scale.
The firm found that the best ten states for entrepreneurs, in order, include Vermont, Florida, Wyoming, New York, Montana, Colorado, Maine, Iowa, Washington, and Rhode Island.
Louisiana was found to be the “worst” state to start a business in, followed by Oregon, Iowa, Hawaii, Mississippi, California, Connecticut, West Virginia, Wisconsin, and Illinois.
Additionally, TOP Data broke down the leaders for each category.
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