One-year business failure rates in the 10 best states to start a business

Wyoming has been named the best state to start a business in for 2024 based on research from law firm Schmidt & Clark, with a one-year new business failure rate of 24%. 

The report analyzed the number of business applications, fail rates and unfriendly customer ratings in all 50 states to determine the best states to start a business in 2024, according to a Feb. 6 news release sent to Becker's. 

The 10 best states to start a business in 2024 and the one-year business failure rate: 

1. Wyoming: 24% 

2. Nevada: 19% 

3. Texas: 21%

4. California: 13%

5. Pennsylvania: 20% 

6. Oregon: 23% 

7. Oklahoma: 21% 

8. Kansas: 25% 

9. Kentucky: 22% 

10. South Dakota: 22%

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