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:
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...