A Small Business Might Fail in These States #Infographic

Published by Mehak Zaman Sunday, April 14, 2024

Starting up a small business may be exciting, but it comes with a host of risks. Potential business owners can boost their chances of survival by choosing their location carefully. That’s why the team at Finfare did some extensive research, created a small business survival index and ranked all 50 states on how likely they were to be the home of successful small businesses. If you’re thinking of relocating to start your small business, there are some states you may want to avoid. According to the index these are the worst states for small business: 

1. District of Columbia 
2. Alaska 
3. New Jersey 
4. Rhode Island 
5. Connecticut 
6. Minnesota 
7. Maine 
8. Vermont 
9. Tennessee 
10. Oregon 

The rankings are based on information like tax rates, amount of available commercial business space, business survival rates, and LLC fees. Each state on this list may have a different reason for having unfriendly conditions for small business. Research is important for successful business ventures and the information collected here is invaluable.

Infographic by: finfare

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