With low unemployment, high job growth, and a high quality of life, Utah rises to the top as one of the most favorable states for doing business.
State leaders have worked hard to cultivate a favorable business climate for a variety of industries, including technology, life sciences and financial services.
Here’s a roundup of four other states topping the list for the best-place-to-do-business:
North Dakota businesses enjoy the fourth most favorable economic climate in the nation as raw resources extracted in mining have boosted the state’s economy.
North Carolina is third on the list. With a cost of living 15-percent below the nation’s average and a favorable regulatory environment, fortunes are on the upswing for the Tar Heel State.
Coming in fourth, Virginia tops the list for a favorable regulatory environment — an important metric for business investment.
In fifth place is Colorado, which took the number-one spot for having a top-notch work-ready labor force. Colorado is the only state on the list that is not a right to work state.
While a favorable business climate is a decided advantage to a startup, it’s still a challenge for entrepreneurs to reach profitability goals. A veteran business coach can help you address what’s holding you back so you can take your enterprise to the next level!