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Ohio near the middle for startup friendliness

On Behalf of | Jul 10, 2017 | Business Law

There are various things it can be crucial for a person to be aware of when starting a business. Among these are what legal matters they need to address related to starting their company. Letting important startup legal matters slip through the cracks could not only cause problems for a business owner during the startup phase, but could also lead to significant problems related to their business further down the line. Business law attorneys can help startup owners with staying informed of what legal matters there are to address related to getting their business started.

Another thing it can be important for a business owner to have a good picture of when getting a startup off the ground is what the conditions for startups are like in the place they will be locating their new business. Being aware of these conditions could help a business owner better understand what kinds of opportunities and difficulties are likely to be present for their business as it is starting up. This could give a business owner a chance to prepare for responding to such challenges and opportunities.

What are business conditions like for startups here in Ohio? A recent set of rankings indicates they are fairly middle-of-the-road.

The rankings are from WalletHub. In them, the states are ranked on how well-suited conditions in them are for starting a business.

Ohio ended up near the middle in the rankings, being ranked the 29th best state for starting up a business.

Three different categories of factors were used in coming up with the overall rankings. These categories were: business costs, business environment and access to resources. A breakdown of how the state did in these categories indicates that one thing that could be particularly challenging for startups in Ohio is getting access to the resources they need. While the state was ranked in the 20s for the two other categories, it was ranked near the bottom in the access to resources category. It was ranked No. 45 for this category.

In your opinion, what are the biggest challenges for Ohio startups when it comes to access to resources?