North Carolina Is 2021’s 9th Best State to Start a Business

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Charlotte Stories
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With the COVID-19 pandemic leading to more than 200,000 permanent business closures but the country starting to recover, the personal-finance website WalletHub today released its report on 2021’s Best & Worst States to Start a Business.

To determine the most fertile grounds for planting and growing new ventures, WalletHub compared the 50 U.S. states across 28 key indicators of startup success. The data set ranges from financing accessibility to COVID-19 cases to office-space affordability.

Starting a Business in North Carolina (1=Best; 25=Avg.):

  • 13th – Avg. Growth in Number of Small Businesses
  • 11th – Labor Costs
  • 12th – Avg. Length of Work Week (in Hours)
  • 12th – Cost of Living
  • 25th – Industry Variety
  • 29th – COVID-19 Positive Tests in the Past Week per Capita

Best States to Start a Business

Overall Rank  State Total Score  Business Environment  Access to Resources  Business Costs 
1 Texas 57.89 2 12 32
2 Georgia 56.92 1 31 20
3 California 56.58 3 1 48
4 Florida 55.84 5 15 22
5 Idaho 55.78 4 41 8
6 Utah 55.66 17 4 31
7 Colorado 54.15 9 9 33
8 North Dakota 54.12 6 18 25
9 North Carolina 54.01 10 21 21
10 Massachusetts 53.85 13 2 43
11 Oklahoma 53.47 28 33 1
12 Arizona 53.41 8 16 30
13 Maine 52.57 11 32 18
14 Mississippi 52.52 37 25 2
15 Tennessee 52.46 7 39 16
16 South Dakota 52.33 22 34 5
17 Kentucky 52.27 15 46 4
18 New Mexico 52.01 26 28 9
19 South Carolina 51.79 20 36 13
20 Nebraska 51.65 18 40 12
21 Indiana 51.55 23 35 11
22 New York 51.30 19 3 46
23 Hawaii 50.88 16 7 41
24 Michigan 50.59 34 29 6
25 Wisconsin 49.55 35 22 23
26 Montana 49.35 33 44 7
27 Iowa 49.22 30 26 28
28 Washington 49.20 29 5 42
29 Illinois 48.81 40 8 36
30 Minnesota 48.45 32 14 35
31 Alabama 47.96 24 50 14
32 Nevada 47.73 43 19 29
33 Ohio 47.33 38 38 17
34 Louisiana 47.00 45 24 15
35 Maryland 46.98 12 13 49
36 Arkansas 46.69 41 48 10
37 Vermont 46.34 31 47 27
38 New Hampshire 45.77 14 43 38
39 Kansas 45.65 42 45 19
40 Oregon 45.56 21 27 40
41 Virginia 45.47 25 30 39
42 Delaware 45.33 36 10 44
43 Pennsylvania 44.52 44 20 34
44 Missouri 43.20 47 37 24
45 Alaska 43.14 27 23 45
46 Wyoming 42.76 46 42 26
47 West Virginia 42.16 50 49 3
48 Rhode Island 41.85 48 17 37
49 Connecticut 41.13 49 6 47
50 New Jersey 41.07 39 11 50

Note: With the exception of “Total Score,” all of the columns in the table above depict the relative rank of that city, where a rank of 1 represents the best conditions for that metric category.

Have you started a business in North Carolina or any other state? 

Do you agree with the report? 

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