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Nevada Ranks Ninth in Nation for Entrepreneurs

The pandemic triggered unprecedented shifts in how and where we work and live, and a high demand for remote work flexibility paired with inflation has prompted entrepreneurs to look for opportunity. According to a new study, Nevada ranks ninth in the nation for entrepreneurs. 

Best States for Entrepreneurs

Harrington Group International recently released a study on the best states for entrepreneurs after analyzing data from the Bureau of Labor Statistics, Census Bureau, and the Bureau of Economic Analysis data from 2020 to 2022.

The rankings were determined via nine metrics grouped into three categories:

  • Workforce and consumer habits
    • Job growth
    • Educated worker mobility
    • Consumer spending
  • Business culture
    • Business growth rate
    • Start-up survival rate
    • Business self-assessment
  • Financial climate
    • GDP growth
    • Credit rating
    • Income tax burden

Key Findings

Based on these metrics, Nevada ranked ninth in the nation for entrepreneurs.

  • Jobs: +5
  • Net migration of educated workers: +21,706
  • Consumer spending: +13.6%
  • Start-up survival rate: 47.5%
  • GDP: +1%
  • Credit rating: AA+
  • Income tax revenue: 0%

Florida, Texas, and Tennessee nabbed the top three spots, while the worst states in the country for entrepreneurs include Connecticut, Illinois, New York, Kansas, D.C., Hawaii, New Hampshire, California, Missouri, and Louisiana.

The Takeaway

Top ten is a great place to be! If you need more information about the current market in Tahoe or Reno, feel free to reach out.

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