NJ, Delaware, Pennsylvania Among Worst States To Start A Business

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PHILADELPHIA, Pa. (CBS) – One of the most common reasons new businesses fail to succeed is because if their locations. According to a report released by personal-finance website WalletHub, the Delaware and Lehigh Valleys might not be the best place to start a business.

Pennsylvania ranked as the fifth overall worst state to start a business. PA also ranked 32nd in both average growth in number of small businesses and in cost of living. Pennsylvania is also home to the fourth worst work environment in the nation.

New Jersey ranked as the seventh overall worst state to start a business. However, New Jersey ranked ninth us access to resources, but came in dead last for business costs. New Jersey also has the third highest labor costs as well as the fifth most educated population in the country.

Delaware ranked 37th overall. Delaware ranked 22nd in business environment, 13th in access to resources, and 42nd in business cost rank.