Washington, Wyoming and California are the best states for entrepreneurs, according to a new analysis, while Hawaii is the second-worst state in which to start a business.

Personal finance website GOBankingRates.com reviewed start-up opportunities and existing businesses in each state to arrive at its findings.

The only state worse than Hawaii for entrepreneurs, according to GOBankingRates, is West Virginia. So. Carolina, Pennsylvania and Virginia follow Hawaii in the bottom five.

Hawaii has the highest cost of living in the nation as well as high business taxes, which makes it difficult for new businesses to thrive, according to GOBankingRates.

The site’s researchers found that third-ranked California, seventh-ranked Delaware, and eighth-ranked Massachusetts, have higher college education measures with higher graduation percentages.

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