With around 1 in 5 new businesses failing within the first year and inflation making things even more difficult, the personal-finance website WalletHub today released its report on the Best & Worst States to Start a Business in 2025, with Maryland coming in ranked 46th overall.
WalletHub compared the 50 U.S. states across 25 key indicators of startup success. The data set ranges from financing accessibility to labor costs to office-space affordability. Starting a Business in Maryland (1=Best; 25=Avg.):
- Overall Rank for Maryland: 46th
- 29th – Avg. Growth in Number of Small Businesses
- 46th – Office-Space Affordability
- 50th – Labor Costs
- 37th – Availability of Human Capital
- 24th – Avg. Length of Work Week (in Hours)
- 45th – Cost of Living
- 49th – Industry Variety
Florida, Georgia, and Utah were the top three states, while Alaska, New Jersey, Connecticut, and Rhode Island came in after Maryland. For the full report, please visit:
https://wallethub.com/edu/best-states-to-start-a-business/36934