- July 22, 2021
- Posted by: Stratford Team
- Category: Business
Looking to start a business? Don’t do it in New Jersey. The Garden State is the worst state to get a new business up and running, according to WalletHub’s 2021’s Best & Worst States to Start a Business.”
To determine the fertile grounds for planting and growing new ventures, analyst Jill Gonzalez said the personal-finance website compared all 50 states across 28 key indicators of startup success. That includes business costs, the overall business environment and access to resources.
Starting a business is never easy and that was made even worse during the COVID-19 pandemic, Gonzalez said. It resulted in 200,000 more business closures than usual.
In New Jersey it has been even tougher to start a business which is why it ranks dead last (#50) on WalletHub’s list. Business costs in New Jersey are some of the highest in the country when looking at office space affordability. Labor costs in the state are the highest in the U.S., which means salaries are…
