WalletHub Study: Rhode Island is ‘worst state to start a business’ in 2019

Chris Electric

With the stock market booming, the personal-finance website WalletHub today released its report on 2019’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 26 key indicators of startup success. The data set ranges from financing accessibility to availability of human capital to office-space affordability.

While Texas came in as the overall best state to start a business, Rhode Island came in at 50th.

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

  • 42nd – Avg. Growth in Number of Small Businesses
  • 27th – Office-Space Affordability
  • 33rd – Labor Costs
  • 31st – Availability of Human Capital
  • 48th – Avg. Length of Work Week (in Hours)
  • 40th – Cost of Living
  • 32nd – Industry Variety
Source: WalletHub

For the full report, visit:

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