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October 22, 2018

Rhode Island Is 2017’s 4th Worst State to Start a Business, Says WalletHub Study


With President Donald Trump proposing to slash the corporate tax rate to 15 percent while startup activity trends upward for three years in a row and reaches pre-Recession levels, the personal-finance website WalletHub conducted an in-depth analysis identifying 2017’s Best & Worst States to Start a Business.

To determine the most fertile grounds for planting and growing new ventures, WalletHub’s analysts compared the 50 U.S. states across 20 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.):

  • 43rd – Avg. Growth in Number of Small Businesses
  • 27th – Office-Space Affordability
  • 32nd – Labor Costs
  • 24th – Availability of Human Capital
  • 48th – Avg. Length of Work Week (in Hours)
  • 42nd – Cost of Living
  • 29th – Industry Variety

 

The best state to start a business? According to WalltHub, North Dakota takes the top spot.

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