Hawaii ranked at bottom of the nation for the best states to start a business, according to the latest study released by WalletHub today.
WalletHub, a personal finance website, compared the 50 states across 25 key indicators of startup success, including access to cash, skilled workers and affordable office space for its “Best States to Start a Business” report.
Texas was at the top of the list (No. 1), followed by Utah (No. 2), Georgia (No. 3), Montana (No. 4) and Oklahoma (No. 5).
Hawaii ranked No. 50 due to high cost of living (No. 50), high labor costs (No. 47) and lowest availability of human capital (No. 50), according to WalletHub. Other factors included industry variety (No. 41) and office space affordability (No. 37).