The research, undertaken by Lensa, looked at factors such as the rate of new entrepreneurs, corporate tax rate, and venture capital, to reveal the best states to launch your business.
Top 10 States to Launch a Startup In:
|
Rank |
State |
New business applications |
Business survival rate |
Rate of new entrepreneurs |
Corporate tax rate |
Share of college- educated population |
Labor costs |
Cost of living index score |
Venture capital disbursed per $1 million of GDP |
Startup score /10 |
|
1 |
Texas |
492,243 |
5.62% |
0.37% |
3.95% |
30.7% |
$32,177 |
92.1 |
$3,000 |
7.09 |
|
2 |
Georgia |
326,460 |
4.8% |
0.47% |
5.93% |
32.2% |
$32,427 |
88.8 |
$3,824 |
6.68 |
|
3 |
California |
518,001 |
7.36% |
0.43% |
4.92% |
34.7% |
$38,576 |
142.2 |
$29,416 |
6.56 |
|
4 |
Illinois |
198,831 |
6.04% |
0.28% |
4.63% |
35.5% |
$37,306 |
94.3 |
$4,175 |
6.22 |
|
5 |
North Carolina |
171,355 |
7.03% |
0.34% |
6.09% |
32.0% |
$31,993 |
95.7 |
$6,082 |
6.07 |
|
6 |
Ohio |
154,824 |
7.69% |
0.28% |
4.39% |
28.9% |
$32,465 |
91.3 |
$1,705 |
5.97 |
|
7 |
Minnesota |
64,638 |
8.68% |
0.2% |
4.17% |
36.8% |
$38,881 |
100.0 |
$4,370 |
5.87 |
|
8 |
Massachusetts |
75,432 |
9.34% |
0.27% |
4.56% |
44.5% |
$45,555 |
135.0 |
$31,792 |
5.79 |
|
9 |
Colorado |
110,567 |
4.88% |
0.42% |
5.8% |
41.6% |
$39,545 |
105.3 |
$8,193 |
5.77 |
|
10 |
New Jersey |
162,576 |
3.72% |
0.37% |
3.74% |
40.7% |
$44,153 |
115.2 |
$2,879 |
5.76 |
In first place is Texas, scoring 7.09 out of 10 in the factors we looked at. Texas saw 492,243 new business applications in the last year, beaten only by California and…
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