By Elyssa Kirkham/GOBankingRates
Entrepreneurship is a cornerstone of the American economy, and it has reached record heights in recent years. Becoming an entrepreneur is a dream for many Americans; two in five employees hope to someday strike out on their own, according to a survey from the University of Phoenix Business School.
But starting a business is a serious undertaking, and part of launching a company means getting an idea of how well your state fosters new businesses and startups. To find out which states are the best or worst for entrepreneurs, GOBankingRates conducted a study that looked at the startup opportunities, existing small businesses, business tax climate and other factors in each state.
Based on the study’s findings, GOBankingRates generated this ranking of the best and worst states for entrepreneurs.
Location is a major factor of success when starting a new business. The 10 best states for business