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New Rankings: CT One of the Worst States to Start a New Business

July 3, 2018 By Staff
New Rankings: CT One of the Worst States to Start a New Business

The rankings, from WalletHub, demonstrate Connecticut has a long road to being called "business-friendly."

It may come as little surprise to some after eight years of increasing taxation and regulation, but WalletHub just ranked Connecticut the eighth-worst state out of 50 to start a business.

Connecticut came it at 43rd in the nation – and third of six states in New England, ahead of New Hampshire (#49), Rhode Island (#48) and Vermont (#47), but well behind Massachusetts (#19) and Maine (#31).

The factors that sunk Connecticut were its “Business Costs” rank (#46) and its “Business Environment” rank (#42). Connecticut ranked highly (#4) on “Access to Resources,” possibly a factor of being close to two of America’s major cities.

The state’s business environment has been a key topic of the Connecticut gubernatorial election in 2018. Republicans have pledged a variety of matters – lower taxes, less regulation, and more engagement among them – to make starting and keeping a business in Connecticut easier in 2019 and beyond.