If you want to start a business, you better get on that 24/7 grindset, bro. 👊 Listen to as many motivational podcasts as you can and start waking up at 4am. The early hustler catches the capital! 🎣💰
Once you’re done binge watching Gary Vee clips, it’s time to start that business plan. The Buckeye State ranked high on a list of best places for startups. 😎 Let’s dive into the details!
Here’s Five Fast Facts on why Ohio is a good place to start your biz:
- 🏆 Buckeye Brags - According to a recent study, Ohio is the second-best state in the nation to start a business. To come up with the rankings, researchers looked at data around 11 different factors, like office rental costs, sales tax rates, and unemployment rates.
- 🏢 Cheap Seats - Why was Ohio ranked so high? For one, the Buckeye State is home to the cheapest office rent in the country at $14.82 per square foot. No word on how many people are sleeping under their desks (George Costanza style).
- 😅 I Will Survive - The study also found that 55% of Ohio-based businesses survive past five years. Each year, roughly 670,000 small businesses are launched nationwide. Out of those businesses, 21% fail within their first year and only 25% make it to year 15 and beyond.
- 🌟 Winner’s Circle - Who took the number one spot? The Lone Star State of Texas. They have 280 coworking spaces, the highest number in the country. Texas also came in first for business support quality and 53% of the state’s businesses survive past five years. Here’s who else made the top 10: Georgia, Florida, North Carolina, Mississippi, Montana, Pennsylvania, Tennessee, and Wisconsin.
- 💩 Stinky in Seattle - The worst state to start a business? Washington. Roughly 41% of businesses in the state survive and it has a high average office rent cost of $25.15 per square foot. Washington also has one of the highest sales tax rates in the U.S. (9.38%).
🔥Bottom line: Let’s be real. A lot of entrepreneurs are all talk and no walk. But if you’re super serious about starting a biz, Ohio might just check all your boxes. Need a jobs and wages outlook for 2025? Say no more, fam. Head over to this article and find out what this year has in store for your career!
Do you own a business in the Buckeye State?
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