Thursday, March 28, 2024
HomesuccessThe 5 best U.S. states for quitting your job and launching your...

The 5 best U.S. states for quitting your job and launching your own business

Quitting your job to finally give that business idea of yours a shot is a thrilling, and risky, proposition. Living in the right state could give you just enough of a leg up to succeed.

After all, your business' location can play a huge role in determining what sort of employees and customers you can attract, as well as costs like taxes and payroll. To offer some help in narrowing down your search, Looka.com — a website that offers branding and design tools for startups — has released a new ranking of the best U.S. states for entrepreneurs.

According to Looka, California is the best place to be if you're finally ready to quit your day-job and start your own business. That's in spite of a notoriously high cost of living, including one of the highest corporate tax rates in the country.

Here are the top five states on the list:

  1. California
  2. Texas
  3. New Jersey
  4. Illinois
  5. Georgia

California has long been a hub for new businesses, especially for the tech industry — but the Golden State has recently seen an exodus of high-profile businesses leaving the state in search of lower costs and, in many cases, lower taxes. Tesla, Oracle and Hewlett Packard are among the biggest names that have moved their headquarters out of California since 2020.

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