Massachusetts has been named the best state in the U.S. for small businesses, with a three-year small business survival rate of 64.96 percent, according to data from business analysis company Capital on Tap.
The company used data from the U.S. Bureau of Labor Statistics to determine the percentage of small businesses still active after three years, according to the Oct. 2 study sent to Becker's.
The 10 best states for small businesses and their average three-year survival rates:
1. Massachusetts: 64.96 percent
2. Wisconsin: 64.93 percent
3. South Dakota: 64.03 percent
4. Minnesota: 63.97 percent
5. Iowa: 63.71 percent
6. North Dakota: 63.63 percent
7. Pennsylvania: 63.51 percent
8. Montana: 62.79 percent
9. Hawaii: 62.22 percent
10. North Carolina: 61.91 percent