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%