Market Overview

Where Are the Top Places in the U.S. to Set Up Shop?

Share:

Where Are the Top Places in the U.S. to Set Up Shop?

FitSmallBusiness.com Lists the Best States for Starting a Business in 2018

The Plains and Midwest States Have What It Takes

PR Newswire

NEW YORK, July 31, 2018 /PRNewswire/ -- Go Midwest, young man. As FitSmallBusiness.com, the digital business publication, discovered - most of the states that embody the key ingredients for creating and maintaining a successful business, are clustered in the Midwest and Plains. With the exception of the #1 and #2 spots in the Northeast: New Hampshire and Massachusetts, respectively, the remaining Top 10 states are positioned in the Midwest and Plains states. 

You'll find the full study HERE.

Everyone knows that a favorable economic climate is paramount to succeeding in business. Beyond that, a high-quality labor market plus good quality of life are needed to attract both employees and clients. In fact, there are seven key metrics that can make or break your business, which you can read further down.

FitSmallBusiness.com researched all 50 states and analyzed publicly-available from leading sources such as the Bureau of Economic Analysis, TaxFoundation.org, and the Bureau of Labor Statistics - to determine the top states and cities within those states for starting a business.

THESE ARE THE TOP 10 STATES (AND CITIES WITHIN THOSE STATES) TO START A BUSINESS:

  1. New Hampshire (Portsmouth)
  2. Massachusetts (Boston)
  3. Wyoming (Cheyenne)
  4. Nebraska (Omaha)
  5. South Dakota (Sioux Falls)
  6. North Dakota (Fargo)
  7. Iowa (Des Moines)
  8. Colorado (Denver)
  9. Utah (Salt Lake City)
  10. Kansas (Kansas City)

The publication chose the following seven metrics to rank the states:

Cost of Starting a Business - 15%
Taxes - 20%
Labor Market – 20%
Cost of Living – 15%
Startup Activity – 10%
Access to Capital – 5%
Quality of Life – 15%

"It was surprising to see all but two of the top ten states were clustered in the Midwest and Plains," says Eric Noe, Editor-in-Chief, FitSmallBusiness.com. "Many of those states have low taxes, a high-quality labor market, a great quality of life and cost of living, making them the ideal place to start a business."

About FitSmallBusiness.com:
With a rapidly growing monthly readership of more than 1.2 million, FitSmallBusiness.com is an online publication devoted to helping small business owners. Its full-time staff of writers spends hours of research, data analysis, and interviews with industry experts to answer the questions that owners want in order to run a successful small business. 

For more information on this list and this topic, please contact Sarah Johnson, 199358@email4pr.com, 917-864-6355.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/where-are-the-top-places-in-the-us-to-set-up-shop-300689062.html

SOURCE FitSmallBusiness.com

View Comments and Join the Discussion!