How Good Is Florida's Economy for Small Business Startups?

Date: July 18, 2017

Florida is one of the best states in the nation to start a new small business, according to a report.

WalletHub analyzed all 50 states across 20 different metrics and ranked which states have the best (and the worst) conditions for launching a business with a potential to flourish. Where does your state stand on the list?

Florida ranked No. 4 nationwide, behind North Dakota, Texas, and Utah. It edged out Nevada at No. 5.

WalletHub considered three categories to compare every state: Business Environment, Access to Resources, and Business Costs. Business Environment took into account factors like the average growth in number of small businesses, startups per capita, and the five-year business survival rate. Access to Resources included factors such as the state’s human-capital availability and the share of the college-educated population. And Business Costs evaluated elements like corporate taxes, cost of living, and office-space affordability.

 

Related Content: Small Business News | Economy | Florida

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