According to the U.S. Bureau of Labor Statistics, 20 percent of small businesses close within a year and only 50 % survive up to 5 years. Having an idea for a new business is easy, but running a business is tough. Getting started is sometimes the hardest part. There are a million one reasons to delay putting your own reputation on the line and investing in your own business.
Despite all the hurdles business owners face, some states make it easier for small business owners to operate and profit. There are also states with higher tax rates and regulations which make it harder for small businesses to survive.
Based on USA Today’s report, here are the best and worst places in the U.S. to run a small business based on state policies, tax rates, infrastructure, annual GDP, business costs, and more.