A Wallet Hub study found Alabama to not be a “sweet home” for business startups.
Wallet Hub compared each state’s business environment, access to resources, and business costs to determine the quality of each state’s atmosphere for creating a new business.
The study determined Alabama to be 41st out of the 50 states for business creation.
The business environment aspect looked at data including the average length of work week, startups per capita, and five-year business survival rate. Access to resources included the working-age population, access to financing, and higher education assets, while business costs dove into data for office-space affordability, corporate taxes, and labor costs, and more.
According to Wallet Hub’s study, Alabama was found to be 48th overall in business environment, 41st in access to resources, and 9th in business costs.
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