Now is the Time to Start a New Business in Idaho

Starting a new business can be a fun adventure, but can be a scary one as well. There is the fear of failure, the fear of running a business, and the fear of the financial aspect. It can be fun being your boss though, and who doesn't dream about one day owning their own businesses of some sort? Waking up and doing something you love each day is the goal in life and making enough to support your family is also important. The hope is you get to do both without having to answer to a boss or corporation. When it comes to starting a business, what state is the best place to do so, which is the worst, and is Idaho a good or bad place to start your new adventure?

The Best and Worst States to Start a New Business

When it comes to starting a new business in 2024, location is a major factor. WalletHub recently released a list of the best and worst states to start a new business and ranked them using a few categories such as business environment, access to resources, and business costs. Using these criteria, it was determined that Utah is the best state to start a business, with Georgia coming in at second, and Florida rounding out the top three. The worst state to start a business in currently is Rhode Island with Connecticut being the second worst, and Alaska being the third worst. 

Is Idaho a Good or Bad State to Start a Business?

This region appears to be the best place to start a business in the country, as Utah is number one, and Idaho comes in on the list as the fourth-best state. Idaho ranks 6 in business environment, 16 in access to resources, and 11 in business costs. Idaho has the highest average growth in small businesses in the entire country proving that word is getting out that the Gem State is a great place to grow your business. If fourth isn't good enough, drive south a bit to Utah, where they rank 8 in business environment, number 1 in access to resources, and 29 in business costs. One thing working for them is that they also work on average the least amount of hours per week in the country. 

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If you have ever had a dream to start a business of your own, you are in the right place. Start in Idaho and expand into Utah eventually, or make it a local business only, whatever works for you. You have two of the best states to start a business in around you, which will hopefully lead to success and a business that will thrive for years to come. To see the full list broken down, make sure to click the link above.