California Ranks 10th for Business Climate

With around 20% of new businesses failing within one year and inflation making entrepreneurship even more difficult, the personal-finance website WalletHub today released its report on 2023’s Best & Worst States to Start a Business.

To determine the most fertile grounds for planting and growing new ventures, WalletHub compared the 50 U.S. states across 27 key indicators of startup success. The data set ranges from financing accessibility to the percentage of residents who are fully vaccinated against COVID-19 to office-space affordability.

Starting a Business in California (1=Best; 25=Avg.):

  • 11th – Avg. Growth in Number of Small Businesses
  • 2nd – Availability of Human Capital
  • 6th – Industry Variety
  • 13th – Percentage of Residents Who Are Fully Vaccinated Against COVID-19
  • 1st – Venture Investment Amount per Capita

For the full report, please visit:

YouTube video

Data files

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