Louisiana comes in as the 37th best state to start a business in the latest ranking from Forbes Advisor. The Bayou State trailed most other Southern states. Nextdoor neighbors Texas, Mississippi and Arkansas were at Nos. 34, 16 and 29 respectively. Forbes Advisor analyzed 18 key metrics measuring business costs, business climate, financial accessibility, economy, and workforce to find the best states to start a business in 2023. Louisiana received low scores for its workforce, business climate and economy. Additionally, a recent survey found that 71% of Forbes Advisor readers would relocate to start their business. Highlights from the report: Indiana ranks as the best state to start a business. With a combination of low taxes, a reasonable cost of living, and a high percentage of the working-age population, Indiana provides ideal conditions for new businesses to succeed. New York ranks as the worst state to start a business. A high cost of living, high unemployment rate, and a relatively low survival rate (at 79%) makes the city that never sleeps a less-than-ideal place to start a business. Washington state has the highest business survival rate across the nation at 89%, while Hawaii has the lowest at just 75%. […]
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