When considering whether or not to start a small business, there are several factors to keep in mind while determining where you would start your business. Fit Small Business compiled a 2018 ranking of all 50 states to determine the best states to start a small business, using the following categories:
Taking into account these factors, the survey ranked Arkansas 41st out of the 50 states, with each of the categories above ranked accordingly:
Arkansas has some of the lowest labor costs in the country but also some of the least educated population. While it may seem crazy that it’s against the law to mispronounce “Arkansas” while actually in Arkansas, the state is home to the country’s only diamond-producing mine and the country’s largest diamond ever discovered in North America. It also lets the public dig for diamonds for free and is the birthplace one of the diamonds of country music, Johnny Cash! If alligator farms and the birthplace of Walmart interest you, then Arkansas may be the right place for you and your new business!
Arkansas Department of Revenue
1509 W 7th Street
Little Rock, AR, 72201
P 501-682-2242
Arkansas Secretary of State
Executive Office State Capitol, Suite 256
500 Woodlane Avenue
Little Rock, AR 72201
P 501-682-1010
Small Business Advocacy
Arizona District Office
2828 North Central Ave. suite 800
Phoenix, AZ 85004
P 501-324-7379
Reserving your name in Arkansas:
Reserving a name for your Arkansas business could reduce the processing time for your application to form an Arkansas Corporation or LLC with the Arkansas Secretary of State.
Reserve Your Name in Arkansas