The new American Dream is to find the financial freedom that comes with starting a successful business. That's really the only way to become truly wealthy in the United States, if you weren't lucky enough to be born into money.

Now, personal finance site WalletHub has calculated what they say is a ranking of the 50 states, "across 25 key indicators of startup success to determine the most fertile grounds in which to launch and grow an enterprise."

You can read more about WalletHub's methodology here. Some of their conclusions are really surprising. (Let's just say people from Mississippi will like it more than some other rankings.) But even if you could quibble a bit with a few of the rankings or methodology, it's an interesting starting point. 

Other rankings we've compiled recently include:

So now, the 50 states ranked in order of friendliness to new business. Where does your state rank? Does the list make sense to you? 

1.          Texas 

Total Score:    64.4   (out of 100 perfect score)

  • Business Environment Rank:           1         
  • Access to Resources Rank:    12      
  • Business Costs Rank:            16

2          Utah   

Total Score:    63.41 

  • Business Environment Rank:           3         
  • Access to Resources Rank:    1         
  • Business Costs Rank:            33

3          Georgia          

Total Score:    60.21 

  • Business Environment Rank:           7         
  • Access to Resources Rank:    15      
  • Business Costs Rank:            17

4          Montana        

Total Score:    58.9   

  • Business Environment Rank:           8         
  • Access to Resources Rank:    14      
  • Business Costs Rank:            8

5.          Oklahoma      

Total Score:    58.67 

  • Business Environment Rank:           11      
  • Access to Resources Rank:    25      
  • Business Costs Rank:            1

6.          Florida           

Total Score:    58.09 

  • Business Environment Rank:           5         
  • Access to Resources Rank:    21      
  • Business Costs Rank:            25

7.          North Dakota

Total Score:    57.94 

  • Business Environment Rank:           4         
  • Access to Resources Rank:    20      
  • Business Costs Rank:            31

8.          California      

Total Score:    57.61 

  • Business Environment Rank:           2         
  • Access to Resources Rank:    6         
  • Business Costs Rank:            47

9.          Arizona          

Total Score:    55.58 

  • Business Environment Rank:           10      
  • Access to Resources Rank:    19      
  • Business Costs Rank:            23

10.       Colorado        

Total Score:    55.43 

  • Business Environment Rank:           6         
  • Access to Resources Rank:    24      
  • Business Costs Rank:            32

11.       Nevada          

Total Score:    53.44 

  • Business Environment Rank:           9         
  • Access to Resources Rank:    30      
  • Business Costs Rank:            29

12.       North Carolina          

Total Score:    53.26 

  • Business Environment Rank:           20      
  • Access to Resources Rank:    17      
  • Business Costs Rank:            14

13.       Washington  

Total Score:    52.55 

  • Business Environment Rank:           15      
  • Access to Resources Rank:    2         
  • Business Costs Rank:            41

14.       Idaho 

Total Score:    52.19 

  • Business Environment Rank:           14      
  • Access to Resources Rank:    46      
  • Business Costs Rank:            7

15.       Michigan       

Total Score:    51.86 

  • Business Environment Rank:           28      
  • Access to Resources Rank:    36      
  • Business Costs Rank:            3

16.       South Dakota

Total Score:    51.59 

  • Business Environment Rank:           32      
  • Access to Resources Rank:    29      
  • Business Costs Rank:            6

17.       Wyoming       

Total Score:    51.39 

  • Business Environment Rank:           17      
  • Access to Resources Rank:    26      
  • Business Costs Rank:            26

18.       Louisiana       

Total Score:    50.91 

  • Business Environment Rank:           27      
  • Access to Resources Rank:    23      
  • Business Costs Rank:            15

19.       Massachusetts          

Total Score:    50.84 

  • Business Environment Rank:           16      
  • Access to Resources Rank:    5         
  • Business Costs Rank:            44

20.       Nebraska       

Total Score:    50.61 

  • Business Environment Rank:           26      
  • Access to Resources Rank:    32      
  • Business Costs Rank:            10

21.       Mississippi    

Total Score:    50.47 

  • Business Environment Rank:           44      
  • Access to Resources Rank:    28      
  • Business Costs Rank:            2

22.       Kentucky       

Total Score:    49.67 

  • Business Environment Rank:           38      
  • Access to Resources Rank:    42      
  • Business Costs Rank:            5

23.       Oregon          

Total Score:    49.6   

  • Business Environment Rank:           13      
  • Access to Resources Rank:    27      
  • Business Costs Rank:            36

24.       Missouri        

Total Score:    49.54 

  • Business Environment Rank:           24      
  • Access to Resources Rank:    33      
  • Business Costs Rank:            20

25.       South Carolina          

Total Score:    49.49 

  • Business Environment Rank:           31      
  • Access to Resources Rank:    39      
  • Business Costs Rank:            13

26.       Arkansas       

Total Score:    49.47 

  • Business Environment Rank:           37      
  • Access to Resources Rank:    35      
  • Business Costs Rank:            11

27.       Minnesota     

Total Score:    49.29 

  • Business Environment Rank:           21      
  • Access to Resources Rank:    10      
  • Business Costs Rank:            39

28.       Illinois

Total Score:    49.04 

  • Business Environment Rank:           34      
  • Access to Resources Rank:    7         
  • Business Costs Rank:            38

29.       New Mexico  

Total Score:    48.79 

  • Business Environment Rank:           43      
  • Access to Resources Rank:    18      
  • Business Costs Rank:            19

30.       Tennessee     

Total Score:    48.31 

  • Business Environment Rank:           35      
  • Access to Resources Rank:    45      
  • Business Costs Rank:            12

31.       Maine

Total Score:    48.19 

  • Business Environment Rank:           30      
  • Access to Resources Rank:    40      
  • Business Costs Rank:            22

32.       New York      

Total Score:    48.02 

  • Business Environment Rank:           18      
  • Access to Resources Rank:    3         
  • Business Costs Rank:            49

33.       Indiana          

Total Score:    47.87 

  • Business Environment Rank:           25      
  • Access to Resources Rank:    47      
  • Business Costs Rank:            18

34.       Virginia          

Total Score:    47.63 

  • Business Environment Rank:           19      
  • Access to Resources Rank:    31      
  • Business Costs Rank:            34

35.       Kansas           

Total Score:    47.54 

  • Business Environment Rank:           41      
  • Access to Resources Rank:    37      
  • Business Costs Rank:            21

36.       Alaska

Total Score:    47.26 

  • Business Environment Rank:           12      
  • Access to Resources Rank:    16      
  • Business Costs Rank:            48

37.       Delaware       

Total Score:    47.17 

  • Business Environment Rank:           22      
  • Access to Resources Rank:    13      
  • Business Costs Rank:            42

38.       Ohio   

Total Score:    46.63 

  • Business Environment Rank:           39      
  • Access to Resources Rank:    43      
  • Business Costs Rank:            24

39.       Iowa   

Total Score:    46.38 

  • Business Environment Rank:           33      
  • Access to Resources Rank:    34      
  • Business Costs Rank:            30

40.       Wisconsin      

Total Score:    46.17 

  • Business Environment Rank:           36      
  • Access to Resources Rank:    44      
  • Business Costs Rank:            28

41.       Alabama        

Total Score:    45.9   

  • Business Environment Rank:           48      
  • Access to Resources Rank:    41      
  • Business Costs Rank:            9

42.       Maryland      

Total Score:    45.85 

  • Business Environment Rank:           29      
  • Access to Resources Rank:    8         
  • Business Costs Rank:            45

43.       Connecticut   

Total Score:    45.05 

  • Business Environment Rank:           42      
  • Access to Resources Rank:    4         
  • Business Costs Rank:            46

44.       New Jersey    

Total Score:    44      

  • Business Environment Rank:           23      
  • Access to Resources Rank:    9         
  • Business Costs Rank:            50

45.       West Virginia

Total Score:    43.6   

  • Business Environment Rank:           50      
  • Access to Resources Rank:    38      
  • Business Costs Rank:            4

46.       Pennsylvania

Total Score:    42.81 

  • Business Environment Rank:           47      
  • Access to Resources Rank:    22      
  • Business Costs Rank:            37

47.       Vermont        

Total Score:    42.53 

  • Business Environment Rank:           46      
  • Access to Resources Rank:    49      
  • Business Costs Rank:            27

48.       Rhode Island

Total Score:    41.88 

  • Business Environment Rank:           49      
  • Access to Resources Rank:    11      
  • Business Costs Rank:            35

49.       New Hampshire       

Total Score:    38.11 

  • Business Environment Rank:           45      
  • Access to Resources Rank:    48      
  • Business Costs Rank:            40

50       Hawaii           

Total Score:    37.16 

  • Business Environment Rank:           40      
  • Access to Resources Rank:    50      
  • Business Costs Rank:            43 

Published on: Jul 3, 2018
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