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North Dakota named 'Best State to Start a Business' for second straight year by Forbes

"North Dakota holds the top position from 2023 and remains the best state for starting a business in 2024," Forbes Advisor stated. "Its business environment is notably welcoming, with a formation fee of just $135, making the entry barrier for new businesses relatively low. This fee is an important consideration for entrepreneurs who are mindful of initial expenses. The state’s business survival rate, sitting at a healthy 77%, reflects a supportive and resilient environment where businesses have a better chance of thriving.

"This state’s appeal is enhanced by a cost-of-living index at 0.94, lower than the national average, and a significant portion of its population, 64%, falls within the working-age range. These factors, along with its perfect scaled score of 100, highlight North Dakota’s comprehensive suitability for new businesses, combining economic feasibility with a robust labor market. The state not only offers financial incentives but also provides a solid foundation for workforce development, ensuring businesses have access to a skilled and able workforce."

Ranked Best in State Table 2024