Start your biz #InIndiana
Indiana ranks as the number one best state to start a business, largely because the Hoosier State offers a business-friendly climate with a low flat tax rate of 3.23%, an above-average business survival rate and a healthy amount of funding opportunities. In fact, the Small Business Association (SBA) reported that Indiana had about $13.1 million in total funding for small businesses within the state last year.
It’s not only Indiana’s business climate that landed it at the top of our list. Entrepreneurs in Indiana enjoy a low cost of living that is 15% lower than the national average along with a lower than average unemployment rate of 2.8%, illustrating the state’s eager workforce.
Methodology: To determine the best and worst states to start a business, the Forbes Advisor team examined 18 metrics across five categories: Business Costs, Business Climate, Financial Accessibility, Economy, and Workforce. Each metric was given an individual weighting to provide every state a score scaled out of 100.
Start a biz in the Evansville Region!
Speaking of #1’s, our region has the #1 performing Small Business Development Center in the state!
Hosted by the Evansville Regional Economic Partnership (E-REP), the Southwest Indiana Small Business Development Center (SBDC) helps businesses start, grow, finance, innovate and transition through no-cost, confidential business advising and low-cost training. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.