15 Worst States in America To Start A New Business

14. Maryland

Maryland is one of the smallest states in America, with only 12 407 square miles. It is one of the original thirteen colonies and is at times referred to as the home of freedom of religion in America. George Calvert formed it in the 17th century, with the intention being that Catholics who were being persecuted in Europe could travel across the Atlantic and seek refuge here. It is home to 6 million people, coupled with its small area, it is, therefore, one of the most densely populated states.

Since 2009 its households have had the highest median income throughout the United States. This is because Maryland had an economy which is quite diverse. It has a booming biotechnology, service and manufacturing industry. Its poverty rate sits at 7.8% making t the lowest in the country and in 2013 it boasted the most millionaires per capita.

 This economic strength is in part because the state is so close to the federal government, which is based in Washington D.C. The other contributing factor is that in Maryland, there are many medical and research institutions. One of the larger of these being John Hopkins University which is now the biggest employer in Baltimore.

Already established residents of Maryland enjoy a relatively high quality of life and yet, it is not a very good place for newcomers and small businesses which are trying to find their feet. It comes in at number 37 on the small business survival index. This is due to the business tax climate which is not ideal for new businesses.  Its opportunity share for new businesses is 73.11%, which further adds to its low rate of new entrepreneurs.