South Dakota Is One of the Best States for Business Success
As volatile as things have been economically in the last few years, one remains the same - South Dakota is still a great place for business success.
Harrington Group International has released a study on the Best States for Entrepreneurs after analyzing data from the Bureau of Labor Statistics, Census Bureau, and the Bureau of Economic Analysis data from 2020 to 2022.
After crunching the numbers, the Mount Rushmore State is the fourth-best state for entrepreneurs.
The rankings were determined by analyzing myriad factors such as taxes, jobs, the startup survival rate, consumer spending, and the net migration of educated workers, among others.
South Dakota's stellar ranking was bolstered by a second-best-in-the-nation showing in business culture and a number seven showing in financial culture.
More than half of the startup businesses in the state (54,7%) are still around after five years.
South Dakota has a job growth rate of 2.3 percent, a 12.8 percent business growth rate, and a 14.1 percent growth in consumer spending.
BEST STATES TO SUCCEED IN BUSINESS
- Florida
- Texas
- Tennessee
- South Dakota
- Idaho
- Montana
- South Carolina
- North Carolina
- Nevada
- Oregon
WORST PLACES TO SUCCEED IN BUSINESS
- Connecticut
- Illinois
- New York
- Kansas
- Washington D.C.
- Hawaii
- New Hampshire
- California
- Missouri
- Louisiana