A report on 2019’s Best & Worst States to Start a Business has found Arizona among the best.
WalletHub identified “the most fertile grounds for planting and growing new ventures, by comparing the 50 U.S. states across 26 key indicators of startup success.
The criteria ranged from financing accessibility to availability of human capital to office-space affordability.
Starting a Business in Arizona (1=Best; 25=Avg.):
• 11th – Avg. Growth in Number of Small Businesses
• 21st – Labor Costs
• 8th – Availability of Human Capital
• 27th – Avg. Length of Work Week (in Hours)
• 31st – Industry Variety
|State||Total Score||‘Business Environment’ Rank||‘Access to Resources’ Rank||‘Business Costs’ Rank|
In a report released last week from the U.S. Bureau of Labor Statistics, the Phoenix-Mesa-Scottsdale metropolitan statistical area (MSA) had the largest total nonfarm job growth of all large MSAs from May 2018 to May 2019.
The Phoenix metro area added 66,500 total nonfarm jobs year-over-year, representing 3.2 percent job growth — the largest of any MSA with a population over 1 million in the 2010 Census. Leading sectors for employment growth were Education and Health Services (17,200 jobs), Construction (15,100 jobs) and Professional and Business Services (12,800 jobs).