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October 22, 2018

WalletHub: Rhode Island is 3rd Worst State to Start a Business


With new corporate tax reform recently signed into law, the personal-finance website WalletHub today released its report on 2018’s Best & Worst States to Start a Business.

To determine the most fertile grounds for planting and growing new ventures, WalletHub compared the 50 U.S. states across 25 key indicators of startup success. The data set ranges from financing accessibility to the availability of human capital to office-space affordability.

Starting a Business in Rhode Island (1=Best; 25=Avg.):

  • 42nd – Avg. Growth in Number of Small Businesses
  • 27th – Office-Space Affordability
  • 32nd – Labor Costs
  • 48th – Avg. Length of Work Week (in Hours)
  • 42nd – Cost of Living
  • 32nd – Industry Variety

In the report, Texas was overall ranked at 1st and Hawaii was ranked at 50th.

 

Source: WalletHub

For the full report, visit: https://wallethub.com/edu/best-states-to-start-a-business/36934/

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