The US consistently ranks among the best countries in the world to conduct business. However, it’s a vast nation, made up of 50 states that can each seem like a different country. And rightly so—virtually every state operates within its own set of laws, which can make running a business in, say, Georgia a pretty different experience from setting up shop in Utah.

Some states offer a better business environment than others, which makes deciding your business’s home base (or market entry) an important consideration. This article highlights the most business-friendly states, and how they earned their titles.

10 most business-friendly states

  1. Colorado
  2. Delaware
  3. Georgia
  4. Minnesota
  5. North Carolina
  6. Tennessee
  7. Texas
  8. Utah
  9. Virginia
  10. Washington

Year to year, media outlets designate select states as the top states for business; these ratings tend to fluctuate over time. In order to come up with these rankings, analysts look at various factors—from labor costs to tax treatments—and, in many cases, weighing certain factors over others. These 10 states are among those most frequently cited as the best places to do business in America.

1. Colorado

  • $50 startup cost
  • 4.55% income tax rate for corporate entities
  • No. 2 most-educated state
  • 2.9% sales tax
  • 691,230 small businesses (99.5% of Colorado businesses)
  • 1.2 million small business employees

Colorado boasts one of the lowest setup costs for small businesses in the country—just $50 to set up an LLC or corporation. Some new businesses here can even engage in fields that are widely restricted elsewhere in the country, such as the cannabis industry.

Colorado businesses have a high survival rate, in part thanks to the state’s highly educated workforce (Colorado is the second-most-educated state in the country), which keeps it competitive, and a favorable tax climate (4.55% income tax rate for corporate entities).

If you’re operating a physical business of any kind, be it a retail store, warehouses, or offices,…

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