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WalletHub study: California is 2023’s 10th best state to start a business

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

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:

This article was released by WalletHub.