Wisconsin is among the 10 worst states in the nation to start a business, according to the annual Best States to Start a Business report from Hauppauge, New York-based
National Business Capital.
Out of all 50 states, the report ranked Wisconsin 42nd in the nation (9th worst) for starting a business.
“High personal (7.7%, 43rd) and corporate taxes (7.9%, 39th) and limited venture capital (41st) and SBA funding (31st) opportunities sink the Badger State to the number 42 slot,” the report says about Wisconsin.
Colorado was the top-ranked state for starting a business by the report, followed by Utah, Michigan, Texas and Florida. California ranked 6
th, followed by Minnesota, Indiana, Massachusetts and Ohio.
The worst state to start a business by the report is Kansas. Rhode Island, West Virginia, Vermont and Oregon rounded out the bottom five.
Metrics considered by the report in ranking the states include: year one survival rates, year five survival rates, GDP per capita, LLC filing costs, LLC annual costs, top corporate tax rate, business applications per capita, venture capital per capita, SBA loan approvals per 100,000 residents, gross receipts tax and personal income tax.
