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 Massachusetts 2nd out of the 50 states, with each of the categories above ranked accordingly:
Massachusetts has a very low cost of labor and a relatively high cost of living, but is one of the least expensive states to start a business in. (Capital is also very accessible.) Massachusetts has very high access to education; in 2019, the state earned the number one spot for pre-K through 12th-grade education in a US News & World Report ranking. It also boasts the highest percentage of bachelor’s degree attainment! The Bay State is home to the Boston Tea Party, Harvard University, and the first phone call in history (thanks Alexander Graham Bell!). If colonial landmarks, basketball history, and Martha’s Vineyard make your day great, Massachusetts may be the right place for your startup!
Massachusetts Department of Revenue
100 Cambridge Street
Boston, MA 02114
P 617-887-6367
Massachusetts Secretary of State
One Ashburton Place, 17th floor
Boston, MA 02108
P 617-727-2030
Small Business Advocacy
Massachusetts District Office
10 Causeway St. room 265
Boston, MA 12114
P 617-565-5590