[Report] The Best States To Start A Small Business: 2020-2021
Last editedDec 20201 min read
Which are the best states in the US to own a small business?
Where you choose to found your business is one such factor. And in the US, different states can provide significantly different environments for business success.
More than 90% of businesses in the US are small and medium-sized (Salesforce, 2019). With small businesses so prevalent, and a key driver of the US economy, enabling them - with data - to make better decisions is important to us here at GoCardless.
This report collates and analyzes 12 key, publicly-available data streams - from authoritative bodies such as the Small Business Administration and the Bureau of Economic Analysis - to rank all 50 states (and the District of Columbia) in terms of how favorable they are for small business owners.
Key findings include:
Best state to start a small business
State with the strongest small business landscape
State with the greatest talent pool
State with the largest recent economic growth
6 best states for favourable tax rates
Featuring contribution from industry experts:
Pranav Sood, VP Small Business @ GoCardless
Tony Ward, President (Americas) @ Xero
Jared King, CEO @ Invoiced
James Ashford, Founder @ GoProposal