POST Online Media Lite Edition



 

Washington best state for entrepreneurs, West Virginia worst

Staff writer |
As two in five working Americans want to own their own business, GOBankingRates conducted a study to find out which U.S. states offer the best conditions for Americans wanting to start a business.

Article continues below






The study found that while Washington, Wyoming and California are the best states for entrepreneurs, West Virginia, Hawaii and South Carolina are the least-friendly states for new business.

To see how well each state fosters new business, GOBankingRates' investigated the startup opportunities and existing small businesses in each state, along with how startup-friendly each state's business climate and economy is to determine the best and worst states for entrepreneurs for 2015.

High Costs of Living: No. 2 worst state for entrepreneurs, Hawaii, has the highest cost of living in the nation and is burdened by high business taxes, making it difficult for new business owners to thrive.

Local Business Climate: Wyoming ranked as the No. 2 best state for entrepreneurs due to the its high per-capita GDP, availability of employees, and state small business loans, which all contribute to a healthy climate for new businesses.

Higher Education: California, Massachusetts and Delaware, all of which rank on the "best" list for entrepreneurs, boast higher college education metrics with greater percentages of students graduating from university.


What to read next

Wyoming best state for retirement, New York worst
South Dakota best for small business
Tourism revenues reached $23 billion in Virginia