If you are planning on starting a business, Connecticut is pretty far down on the list of places to start one, according to a new study from WalletHub.
The website used data from the U.S. Bureau of Labor Statistics and looked at business environment, access to resources and business costs to rank the state. Texas came in at the top overall as the best state to start a business, while Connecticut ranks 43rd.
Our state came in 45th for average growth in the number of small businesses, 42nd for office-space affordability, fourth for labor costs, 43rd for the average length of the work week in hours, 43rd for cost of living and 33rd in industry variety.
The study also found that Connecticut has the highest labor costs and Connecticut ranked fourth highest for most-educated population, behind Massachusetts, Colorado and Maryland.
The states that ranked worse than Connecticut include New Jersey, West Virginia, Pennsylvania, Vermont, Rhode Island, New Hampshire and Hawaii.