Despite Being a Top State for Entrepreneurs, Massachusetts Gets Slighted
One of the most challenging endeavors anyone can take on in their career path is starting a business. That goes for any business, regardless of what it is! Of course, a huge part of where you decide to start up that business can really factor into just how successful your business will be. It just so happens that the Bay State is one of the best spots to be for any startup! But one publication seemed to make sure it was known we weren't really a 'top state' on their list.
The graphic design company 'Looka' recently did some research to find the top states for entrepreneurs and among the top 10 was Massachusetts. It was a really solid ranking at 6th overall. However, another publication known as 'Inc.' wanted everyone to see in their headline that the Bay State did not make the top five.
Just below the headline of their article, 'Here Are The Top 5 States to Start a Business. 3 of Them Will Surprise You', their caption reads: "New York and Massachusetts Didn't Make the List. Who Did?" Geez, thanks guys! Way to call us out before the article even starts.
Of course, with the appeal of New York, and Massachusetts being the cornerstone of New England, that is certainly a way to make you think, "Well who made the list then?"
That's fair. We'll give them that. And they're not wrong, we did NOT make the top five.
As for our actual ranking in the top 10, according to 'Looka', there were many factors they took into consideration for those starting a business, including cost of living in the area, state tax laws, median household income, and certainly the survival rate of startup businesses in that state. For any business to sustain itself past the startup stages, these are all key factors. Here's what 'Looka' had to say about ranking us 6th overall on the list:
Massachusetts is ranked as the 6th best state for entrepreneurs. Massachusetts has a high median household income, coming in at 3rd, but it also has a high survival rate for entrepreneurs and small businesses.
So even if the Bay State didn't make the top five states for entrepreneurs, if you're here, you're still in a prime spot to kickstart your business.