Maryland Ranks Among Worst States For Business Startups

MARYLAND — Analysts from WalletHub think Maryland is one of the most difficult states to start a new business in, due to high labor costs and expensive office spaces, according to a new ranking.

WalletHub researchers compared the 50 states across key indicators like business environment, such as the average length of the work week and industry variety; access to resources, like financing accessibility and share of college-educated population; and business costs, such as office-space affordability and corporate taxes.

According to the study, researchers believe North Dakota is the best state to start a business, followed by Texas, Utah, Oklahoma and Nebraska.

New Jersey was deemed the worst state to start a business, then New Hampshire, Maryland, Rhode Island and Hawaii.

Maryland placed as the top state with the highest labor costs, compared to Mississippi with the cheapest.

See the WalletHub study here.

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