BISMARCK, N.D. – North Dakota was ranked as the #1 best state to start a business by WalletHub. North Dakota came in ahead of neighboring states South Dakota (10th), Montana (11th) and Minnesota (30th).
In creating the list, WalletHub ranked all 50 states across 20 key indicators of startup success. North Dakota ranked #1 in the categories of highest average growth in the number of small businesses and most accessible financing.
“Building a business-friendly environment has been a goal for North Dakota, and Governor Burgum’s strategy is to continue to grow our start-up opportunities,” Commerce Commissioner Jay Schuler said. “Rankings such as this point to North Dakota’s overall strength in attracting workers and businesses to the opportunities we have to offer.
Rounding out the top five states were Texas (2), Utah (3), Oklahoma (4) and Nebraska (5). WalletHub notes that a state that provides the ideal conditions for business creation — access to cash, human capital and affordable office space, for instance — can help new ventures not only take off but also thrive.