Louisiana ranks 17th in a recent survey of best states for starting a business.
The survey was performed by Looka, an AI-powered marketing and design company from Toronto. To arrive at the results, the company ranked each state in six categories that play a role in how its businesses fare in the long run.
Louisiana ranks near the bottom for median household income (No. 47), but the state is near the top (No. 2) in survival rate for small businesses.
Here’s where Louisiana ranks in the other four categories:
- Cost of living: No. 20.
- Businesses with less than five employees: No. 25.
- Annual payroll of businesses with less than five employees: No. 26.
- Percentage of the population that starts a new business: No. 14.
According to Looka, the top 10 states for starting a business were, in order: California, Texas, New Jersey, Illinois, Georgia, Massachusetts, New York, Florida, Oklahoma and Tennessee.