Wisconsin among bottom half of states for starting a business
According to U.S. Bureau of Labor Statistics data, about a fifth of all startups typically don’t survive past year one of operation, and nearly half never make it to their fifth anniversary. A new survey from Wallethub seeks to find the best and worst states to start a business for 2023, and Wisconsin doesn’t fare so well.
Wisconsin ranked 37th, one spot ahead of Minnesota but behind every other Midwestern state. Among other neighboring states, Michigan ranked 21st while Illinois and Iowa ranked 26th and 27th, respectively.
WalletHub compared the 50 states across 27 key indicators of startup success such as access to cash, skilled workers, and affordable office space to determine the most fertile grounds in which to launch and grow an enterprise.