THE BEST STATESFor Business

B Y   C A RO L E   A RGO

BACKGROUNDWhen you’re looking to break into a newindustry or open a new business, there is alot to consider.

You have to ensure that your businessplan, from top to bottom, is nearlyflawless. You have to ensure the industrythat you’re entering is ripe for newbusiness and that your product or servicewill fill a gap and make positive change.

You have to make sure that your businessand the people who will be working withinit have everything figured out to makeyour business dreams into a reality.

LOCATIONA perhaps vastly under noted piece ofbuilding your own business isn’t even apiece of the business itself–where youwind up starting. 

Every year, Forbes Magazine releases itslist of the best states for business,factoring in a number of criteria includingcost, labor supply, environmental factorsand quality of life, among others. Here aresome of the best and worst, according toForbes.

THE BEST States for Business

5. COLORADO

Business Cost: 40

Labor Supply: 1

Regulatory Environment: 9

Colorado is home to 10 of2016’s Fortune 500 companies

including Dish Network,Western Union and DaVita

Healthcare.

Economic Climate Rank: 2

Growth Prospects: 3

Quality of Life: 18

4. TEXAS

Business Cost: 4

Labor Supply: 8

Regulatory Environment: 25

Texas finished first in overalleconomic climate ranking,

more than making up for itsbelow-average quality of life

rank.

Economic Climate Rank: 1

Growth Prospects: 8

Quality of Life: 32

3. NEBRASKA

Business Cost: 9

Labor Supply: 20

Regulatory Environment: 1

Two of healthcare companies inNebraska–Atlas MedStaff andPrime Time Healthcare–bothrank in the top 60 in the Inc

5000 list.

Economic Climate Rank: 14

Growth Prospects: 26

Quality of Life: 7

2. NORTH CAROLINA

Business Cost: 2

Labor Supply: 12

Regulatory Environment: 7

North Carolina plays home tosome of the country’s biggestbusinesses including Lowe’s,BB&T and Bank of America.

Economic Climate Rank: 22

Growth Prospects: 9

Quality of Life: 13

1. UTAH

Business Cost: 11

Labor Supply: 5

Regulatory Environment: 2

With two top-two finishes andfour top-10, Utah is theundisputed best state inAmerica for businesses

according to Forbes.

Economic Climate Rank: 9

Growth Prospects: 2

Quality of Life: 21