Missouri is one of the worst states to start a business in this year according to the experts, why? Here are the reasons they say you should stay away from the Show-Me State...

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According to a ranking from WalletHub, Missouri is the 41st out of 50 States to start a business this year. Missouri ranked well behind Illinois which came in 22nd, Tennessee which finished 10th, and Arkansas which ranked 14th on the list. How did they determine these rankings? On the site, WalletHub says...

"...there are plenty of other reasons that startups fail, with a “bad location” being among the most common. Choosing the right state for a business is therefore crucial to its success. A state that provides the ideal conditions for business creation — access to cash, skilled workers and affordable office space, for instance — can help new ventures not only take off but also thrive. In this study, WalletHub compared the 50 states across 25 key indicators of startup success to determine the most fertile grounds in which to launch and grow an enterprise."

Missouri ranked 47th in the Business Environment category, that category is made up of things like Startups per capita, 5-year business survival rate, Job Growth, and the number of "engaged" workers. Missouri also finished a poor 39th in the Access to Resources category, which negatively impacted Missouri's overall ranking.

The only states WORSE to start a business in this year than Missouri are states like Hawaii, Alaska, New Jersey, West Virginia, Connecticut, and Rhode Island...To see the full list of the best and worst states to start a business in 2024, click here!

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Gallery Credit: Stacker


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