According to Looka, the top 10 states were: California, Texas, New Jersey, Illinois, Georgia, Massachusetts, New York, Florida, Oklahoma, and Tennessee. The ranking was based on the number of businesses with less than 5 employees (Florida had the most), median household income by state, survival rate for businesses by state, cost of living in each state, annual payroll for these small businesses, and the percentage of new business in each state from 2020 to 2021. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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