For any budding entrepreneur, where you start your online business is a crucial decision that can affect costs, growth, and even revenue. For online ventures, making sure you’re in an area with excellent underlying internet infrastructure is important—and New York state tops the list.

A July 2021 study by Digital.com ranked the best and worst states in which to start an online business, using nine metrics divided into four categories: taxes, regulations, financial resources, and tech infrastructure. Digital.com graded each metric on a 10-point scale, then averaged the scores together for an overall category score and weighed their importance with the help of experts in those fields.

New York has one of the highest rates of broadband internet in the country, and its average internet speed is also above par. The metrics for tech infrastructure were average internet speed in Mbps, broadband coverage, and the results of a “Digital States” survey. Tech infrastructure isn’t the only driver for determining a startup’s location, but it’s certainly in the top three. For entrepreneurs looking for the best throughput to power their online business, New York is the place to beat. In comparison, Wyoming ranks last with more than 75% of the state lacking broadband internet coverage.

But New York doesn’t rank as highly in other areas. Though it’s fifth for best financial resources, New York is 41st and 49th, respectively, when you look at corporate taxes and a business-friendly regulatory environment. New York comes in 26th in Digital.com’s overall rankings, putting the state firmly in the middle of the list of ideal states in which to start an online business.

Recommended by Our Editors

Utah, Washington, Florida, Texas, and North Carolina were the top five (in descending order). Wyoming, as stated earlier, ranks last in tech infrastructure but is top of the pack in terms of favorable tax climate compared to New York’s ranking. South Dakota ranked first in best business regulations, and California came in first for having the best financial resources available to online startups.

This newsletter may contain advertising, deals, or affiliate links. Subscribing to a newsletter indicates your consent to our Terms of Use and Privacy Policy. You may unsubscribe from the newsletters at any time.





READ NEWS SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here