Wyoming’s case as a top state in which to start a business was emboldened by a recently released financial website study ranking it the Best State to Start a Business.
The lofty ranking comes on the heels of the 2016 Kauffman Startup Index report. Wyoming placed third in the United States for new business creation, the report states. Wyoming has ranked in the top five for the last three years.
GoBankingRates cited Wyoming’s favorable tax climate and strong startup activity score in its study.
“Wyoming’s business tax climate is conducive to starting a business,” according to the GoBankingRates website.
Wyoming has the fourth-highest rate of new entrepreneurs, and a great record of business survival.
The website noted Wyoming’s high ratio of businesses being created to those closing down.
GoBankingRates considered nine factors, including employee education and availability, startup rate, cost of living and tax rates.
The Ewing Marion Kauffmann Foundation, a private organization focused on entrepreneurship and education, studies the rate of new entrepreneurs in the economy, how many of those entrepreneurs are starting a business as an opportunity rather than out of necessity and the rate of startups to the total business population.
Wyoming’s rate of new entrepreneurs in any given month has continued to climb every year since 2010, according to the report. More importantly, 89.5 percent of those people are starting a new business because they want to, not because they were unemployed and had no choice.
To learn more about the services available to entrepreneurs in Wyoming, and the advantages of doing business here, visit wyomingbusiness.org.
About the Wyoming Business Council: Our mission is to increase Wyoming’s prosperity. We envision a Wyoming where industries are strong, diverse and expanding. Small business is a big deal. Communities have the highest quality of life. Wyoming is the technology center of the High Plains. Wyoming knows no boundaries. Please go to www.wyomingbusiness.org for more information.