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According to a recent study by WalletHub, Florida is one of the best states to start a business.

Florida ranked as the sixth best of all 50 states to start a business. This is based on multiple factors that include financing accessibility to availability of human capital to office-space affordability.

Florida also ranked #3 for average growth in number of small businesses which demonstrates that the state has a lot of potential for entrepreneurs.

To determine the best and worst states to start a business, WalletHub compared the 50 states across three key dimensions: 1) Business Environment, 2) Access to Resources and 3) Business Costs.

Florida’s tax environment is favorable to both businesses and individuals as Florida has no corporate franchise tax, no state personal income tax, no taxes on inventories and no taxes on foreign income.

State and local governments also offer competitive tax incentives for businesses that relocate or expand in Northeast Florida.

Choosing the right location for a business is crucial to its success. Florida, including Jacksonville, provides the ideal conditions for business creation including a skilled workforce, access to capital and a business-friendly environment that can help new entrepreneurs be successful.