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/

Ryan Belmore is the owner and publisher of What's Up Newp. He took over the publication in 2012 and has grown it into a three-time Rhode Island Monthly Best Local News Blog (2018, 2019, 2020). He was named LION Publishers Member of the Year in 2020 and received the Dominique Award from the Arts & Cultural Society of Newport County the same year. He has been awarded grants for investigative and community journalism, and continues to coach and mentor new local news publications nationwide. Ryan...