If you plan to start a business in New York, it may be a little more difficult to keep it afloat, because Wallethub has classified the State Empire among the worst states to start a business in 2025. According to a recently published report.
THE American work statistics office Said that around a fifth of all startups do not survive longer than the first year of activity and about half never reach five years. New York is one of the last 10 states of the list, which compares the 50 states out of 25 key indicators for the success of startups, such as the growth in the average turnover of companies, the share of the population having done university studies and the cost of living.
“It is crucial to establish your business in a state that will maximize your chances of success,” said Chip Lupo, Wallethub analyst. “The best states have tax rates for low companies, strong economies, abundance of reliable workers, easy access to financing and affordable real estate.”
