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In WalletHub's latest ranking of the best and worst states to start a business, Maine fared the best out of all six New England states while coming in at No. 23 overall.
Texas, Utah and Georgia topped the list at No. 1, No. 2 and No. 3, respectively, while Rhode Island was at the back of the pack, at No. 50.
Among other New England states, Massachusetts was No. 36; Vermont, 43; Connecticut, 47; and New Hampshire, 48.
The personal finance website compared the 50 states across 26 key indicators of startup success, though the authors also cite U.S. Department of Labor statistics showing that one in five startups typically don't make it past the first year and nearly half never make it to their fifth anniversary.
States were assigned rankings in the categories of business environment, access to resources and business costs, which were then used to calculate the overall ranking.
In a separate sub-list of states with the cheapest office spaces, Maine came in at No. 2 behind Iowa.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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