Hawaii Is 2024’s 9th Worst State to Start a Business

from WalletHub Jan 16, 2024

With around 20% of new businesses failing within one year and inflation making entrepreneurship even more difficult, the personal-finance website WalletHub today released its report on 2024’s Best & Worst States to Start a Business to showcase the most fertile grounds for planting and growing new ventures. 

WalletHub compared the 50 U.S. states across 25 key indicators of startup success. The data set ranges from financing accessibility to labor costs to office-space affordability.

Starting a Business in Hawaii (1=Best; 25=Avg.):

Overall Rank for Hawaii: 42nd
36th – Avg. Growth in Number of Small Businesses
38th – Office-Space Affordability
47th – Labor Costs
29th – Availability of Human Capital
28th – Avg. Length of Work Week (in Hours)
50th – Cost of Living
43rd – Industry Variety

LINK:  full report