Florida is best state to start a business in 2025, per study
ORLANDO, Fla. - If you're an entrepreneur thinking about starting a business, Florida might be your best bet.
A recent WalletHub study ranked Florida as the top state for launching a business.
The personal-finance website compared all 50 U.S. states using various factors critical to startup success, including access to financing, labor costs, and office-space affordability.
The study found that Florida saw the number of small businesses in the state grow by nearly 16% between 2016 and 2022, the fourth-highest percentage in the country.
By the numbers:
Here are Florida's rankings in key business factors, according to WalletHub:
- Overall: 1st
- Small Business Growth: 4th
- Labor Costs: 16th
- Availability of Human Capital: 13th
- Work Week Length: 21st
- Cost of Living: 25th
Read the full study here.
STAY CONNECTED WITH FOX 35 ORLANDO:
- Download the FOX Local app for breaking news alerts, the latest news headlines
- Download the FOX 35 Storm Team Weather app for weather alerts & radar
- Sign up for FOX 35's daily newsletter for the latest morning headlines
- FOX Local: Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV
The Source: This story was written based on information shared by WalletHub.