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.