Report ranked Rhode Island number 23, best state to start a business

This is a file photo of a clothing store. (WLNE)

PROVIDENCE, R.I. (WLNE) — A report from Forbes Advisor ranked Rhode Island number 23 on the list of best states to start a business.

The report weighed data like cost of living, accessibility and business costs for each state to determine their rankings.

According to the report, Rhode Island saw 970 new businesses start in the past year.

Data also showed Ocean State businesses have a 76.9% survival rate.

Indiana was ranked the best state to start a business because of low taxes and lower average cost of living.

Forbes ranked New York as the worst state to start a business due to its higher cost of living and unemployment rate.

For the full report, visit the Forbes Advisor webpage.

 

 

Categories: News, Rhode Island