10 Best and Worst States for Starting Your Own Business
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First, the bad news: A high cost of living means overall business costs here are also among the highest in the nation, and Massachusetts ranks seventh-worst overall for them. Similarly, it has some of the highest labor costs, behind only Maryland, New Jersey, and Hawaii. If you want your startup to grow and include employees, it’s going to cost you.
Why you’ll still want to start a business here: Although the price of doing business is high, Massachusetts ranks second-best for access to resources. You’ll have an easier time accessing capital (monetary and human) to help a new business thrive.
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