September 23rd, 2011

Best and Worst States to Start a Business

Calling all Entrepreneurs! Looking for somewhere to relocate? A new study confirms that wherever your  business could is located it may affect your success — even your survival. According to the latest State Entrepreneurship Index published by the University of Nebraska-Lincoln, states in the Northeast and Northwest are the most favorable for entrepreneurship, while the Southern States are not so fortunate.

Rankings were bases upon five components: percentage growth in business establishments, per capita growth in business establishments, business formation rate, number of patents per thousand residents and gross receipts of sole proprietors and partnerships per capita.

Here are the five best and five worst states for entrepreneurship:

Best States for Entrepreneurs: 

The Best City for Entrepreneurship goes to the “Big Apple” – New York, guess that making it in the concrete jungle is more beneficial than I thought. Go hard or go home is the mentality that every New Yorker has! Definitely a city of go-getters, so if you want to start your own business, you know where to go!

Let’s see who else is on the list:

#2- Washington

#3- Massachusetts 

#4- New Jersey

#5- Oregon

Yikes! My family’s hometown of South Carolina is #1 for the worst state to start a business. Wouldn’t have guess that at all, let’s see where else is not a successful area for new business.

#2- Arizona 

#3- Mississippi

#4- Nevada

#5- Alabama

Read more about this study here

About the Author

DeAndra Harrison
DeAndra` A. Harrison, Editor for Socialtik Mag is a Columbus, OH native, trying to survive in the "concrete jungle of NYC", who is passionate about her entrepreneurial ambitions. She is striving to succeed and she will let everyone know. She believes that helping herself is not enough, so she actively imparts the knowledge she acquires to those around her.



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