If you’re planning to launch a business, Texas is the best state in which to do it, according to a new studyby the personal finance website Wallethub.
Two other HPPR states also landed in the top ten states for starting businesses, with Oklahoma at number five and Colorado at number 10. Kansas and Nebraska were also in the top half of states, landing at number 16 and 19 respectively.
To determine the rankings, Wallethub compared states across 26 key indicators, including job growth, education levels, labor costs and corporate tax rates. Texas narrowly beat out Utah and Georgia for the top slot.
New Jersey and Rhode Island were found to be the worst states for starting businesses.
Wallethub noted that “startups fail for different reasons, [and] a state that provides the ideal conditions for business creation can help new ventures not only take off but also thrive.”