With around 20% of new businesses failing within one year and inflation making entrepreneurship even more difficult, the personal-finance website WalletHub today released its report on 2023’s Best & Worst States to Start a Business, as well as expert commentary.
2 comments:
Rhode Island gets on these lists as having a bad business climate, but had the HIGHEST rate of new business success of any state in recent rankings. I can provide references if useful.
Here is the references and some further commentary
I wrote a critique of a report by the state economic development agency in RI
“Rhode Island Innovates 2.0”. https://commerceri.com/wp-content/uploads/2020/02/Rhode-Island-Innovates-2020.pdf
My critique is at https://prosperityforri.com/about-us/f/economic-development-that-benefits-communities-and-the-planet
Here is what I wrote , which is exactly apropos to the article Sam got the rankings from. I regularly ask Sam to ignore such rankings as they provide no real value.
This one is so telling. The economic development and business communities are always complaining about Rhode Island’s business climate and how business unfriendly we are. (It means Rhode Island actually has a few environmental regulations and are not the stingiest state when it comes to resources for low income community members). Rhode Island received a 40th out of 50 ranking in our business environment while small business survival rate is strongest in the country. Can we throw the whole industry of business rankings out now and refuse to pay attention in the halls of government ever again?
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