Want to Start a Business? Try Florida First

A new study ranks the state as the best place for entrepreneurs to get started creating a company.

According to the study from personal finance company WalletHub, Florida leads several Sunbelt and Western states that rank high for business start-ups. WalletHub compared the 50 states across 25 key indicators of startup success to find the best states to launch a successful company.

Florida topped the list for 2025 with the third-most startups per capita and the highest percentage of adults who engage in entrepreneurship. The number of small businesses in the state grew by almost 16 percent between 2017 and 2023, it found.

“Around half of all new businesses don’t survive five years, so the idea of becoming a business owner can be daunting, especially with the current high cost of living,” said Chip Lupo, analyst at WalletHub. “That’s why it’s crucial to establish your business in a state that will maximize your chances of success. The best states have low corporate tax rates, strong economies, an abundance of reliable workers, easy access to financing and affordable real estate.”

Here are the top 10 states to start a business in, WalletHub found: 1, Florida; 2, Utah; 3, Texas; 4, Oklahoma; 5, Idaho; 6, Mississippi; 7, Georgia; 8, Indiana; 9, Nevada; and 10, California.

The worst states to start a new business, according to the survey, were, from the bottom up: Rhode Island, Maryland, Hawaii, Connecticut, New Jersey, Pennsylvania, West Virginia, Alaska, New Hampshire and New York.

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