ALBUQUERQUE, N.M. (KRQE) – Starting a business is no easy feat, and according to the U.S. Bureau of Labor Statistics, about one in five startups typically don’t survive a year in operation. Financial site WalletHub recently released a study listing the “best and worst states to start a business in 2023.” According to the study, New Mexico ranked 30th.
WalletHub compared the 50 states along three key dimensions: business climate, access to resources, and cost of doing business. They then used these dimensions using 27 indicators to determine which state was best for growing a business.
New Mexico also ranks 33rd in business climate, 46th in access to resources and 14th in cost of doing business.
Top 10 Best States to Start a Business:
- Oklahoma state