Colorado eighth among best states in which to start businesses

Colorado ranks eighth in the latest online ranking of the best states in which to start a business.

Colorado fared well in the analysis for its labor market and access to capital, but less well in other criteria evaluated by FitSmallBusiness.com, a website that provides advice, information and other resources to small businesses.

FitSmallBusiness.com ranked states in seven categories that affect small business survival and success — access to capital, cost of living, cost of starting a business, labor market, quality of life, startup activity and taxes.

Colorado ranked second for its labor market, 12th for access to capital and 18th for both quality of life and taxes. Colorado ranked 21st for cost of starting a business, 24th for startup activity and 34th for cost of living.

FitSmallBusiness.com also picked what it rated as the best cities in its top 10 states in which to start a business — Denver, in the case of Colorado.

New Hampshire ranked first overall with the top rankings for both cost of starting a business and labor market. Massachusetts placed second overall with the third best rankings for access to capital, quality of life and startup activity. Wyoming finished third overall with the top ranking for taxes and third best ranking for cost of starting a business.

Nebraska, South Dakota, North Dakota, Iowa, Utah and Kansas rounded out the top 10 states in the ranking.