Wisconsin was ranked 14th best out of 50 states in a report analyzing major costs for setting up and maintaining a business. Neighboring states Illinois and Minnesota both ranked among the 10 most expensive states for entrepreneurs; Indiana ranked 11th best overall.
Business consulting firm Venture Smarter analyzed eight metrics that could influence the cost of setting up and running a business in each state. This included each state’s corporate tax rate, sales tax rate, average LLC filing fees, the cost of maintaining that LLC, average commercial rent costs, average weekly wage, the hourly minimum wage, and labor force as a percentage of total population.
New York ranked as the most expensive state for entrepreneurs, with high commercial rent costs, weekly wages, and LLC filing costs. Washington ranked second, Massachusetts third and California fourth. Mississippi was scored as the most affordable state to set up and maintain a business.
Visit https://venturesmarter.com to learn more.
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