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 Wyoming 3rd out of the 50 states, with each of the categories above ranked accordingly:
The "Equality State" has one of the best records of business survival with a ratio of 1.61 of businesses created to businesses closing down. Not only that, but its business tax climate is incredibly attractive to entrepreneurs looking to start up a new business as it lacks a corporate income tax, individual income tax, or gross receipts tax. The state capital of Cheyenne, with its neighboring university of Wyoming at Laramie, offers access to a young and bright talent pool and is also home to affordable office space. This state (which was the first to grant women the right to vote in 1869!) also ranks high in public safety, access to education, and per capita income. We have a feeling that it may not be hard to convince you to strongly consider the beautiful state of Wyoming, with the Bighorn mountains, Yellowstone National Park, and vista after stunning vista, as a top contender to start your new business.
Wyoming Department of Revenue
122 West 25th Street, 2nd Floor West
Cheyenne, Wyoming 82001-0110
P 307-266-3261
Wyoming Secretary of State
Business Division 2020 Carey Avenue, Suite 700
Cheyenne, WY 82002
P 307-777-7311
Small Business Advocacy
Wyoming District Office
150 East B Street-Room 1011
Casper, WY 82601
P 307-261-6500