CNBC publishes a list naming America's top states for business. The performance study ranks all 50 states using 86 metrics across 10 categories. Each state is given an overall rating along with individual rankings in a variety of categories.

These categories are economy, 澳洲幸运5官方开奖结果体彩网:infrastructure, workforce, cost of doing business, quality of life (life, health, and inclusion), technology and innovation, business friendliness, education, cost of living, and access to capital.

Below we take a look at the top five states in CNBC's most recent ranking from 2023.

North Carolina

North Carolina took the top spot for best state for businesses. CNBC ranked it very highly in terms of its economy, tech and innovation, education, and access to capital. It took the top spot for workforce. By far the weakest area for North Carolina was its quality of life. In this category, the state ranked 34. 澳洲幸运5官方开奖结果体彩网:Quality of life covers factors like crime rate, quality of healthcare, worker protections, and environmental quality.

Virginia

In the most recent study conducted in 2023, CNBC ranked Virginia number two. The state beat the competition in education and also ranked highly in access to capital and business friendliness. It ranked fairly poorly in the cost of business category, coming in at 34. The cost of the business category takes into consideration taxes (including incentives), wage and utility costs, and the cost of office and industrial space. The cost of business and the fairly high cost of living were the state's two weakest areas.

Tennessee

Tennessee came in at number three, with its strongest category being infrastructure. Infrastructure looks at the strength of a state's transportation system as measured by the value and volume of goods shipped by air, road, rail, and water. It also includes the time it takes to commute to work, the condition of highways, and how available air travel is. Tennessee also ranked highly in economy, education, and the cost of doing business. The state ranked very poorly in quality of life, coming in at 43. It was also not very strong in cost of living and tech and innovation.

Georgia

The fourth best state for businesses is Georgia, which ranks number one in infrastructure. It also ranks highly in economy and workforce. It does not rank highly in other categories, including quality of life, business friendliness, and the cost of doing business.

Minnesota

Minnesota ranks as the fifth best state to do business. It ranks highly in infrastructure, tech and innovation, and quality of life. It does not rank highly in the cost of doing business and friendliness. It is not that strong in economy and access to capital either.

The Bottom Line

Starting a business is a difficult task. Starting one in a state that 𒀰makes it easier for you can help increase yo🍌ur chances of success. Depending on your specific business, categories such as good infrastructure, tech and innovation, quality of life, and access to capital can make a positive difference.