Wallethub ranks Colorado 10th in entrepreneurial analysis

Colorado ranks 10th among the 50 states in the latest analysis of the best places to start and grow businesses.

Colorado ranked sixth for its business environment, 18th for access to resources and 34th for business costs in an analysis conducted by WalletHub.

The personal finance website used information from federal agencies, foundations and media to track 26 indicators of startup success, including work force availability, office space affordability, and financing accessibility.

The full report is available online at www.wallethub.com/edu/best-states-to-start-a-business/36934/.

Colorado received an overall score of 52.67 out of a possible 100.

Colorado ranked second for its share of the population with college educations, fourth for startups per capita and sixth for the average growth in the number of small businesses.

The state placed 15th for the average length of its work week and 27th for industry variety. Colorado came in at 46th for availability of human capital.

Among the states, Texas ranked first overall in the analysis after placing first for business environment. Utah ranked second, followed by Georgia, North Dakota and Oklahoma. Florida, Arizona, California and Montana also ranked among the top 10.

Rhode Island ranked as the worst state in which to start a business, followed by New Jersey,  New Hampshire, Hawaii and Connecticut. Pennsylvania, Delaware, Vermont, New York and West Virginia rounded out the bottom 10.