If you're looking to start your own business, you're definitely in the right state for it.

According to our friends at WalletHub, North Dakota ranks number one in the country as the top state to start a business in. Analysts determined the ranking by choosing 20 key factors to draw from in the ranking of all 50 states in the U.S. Our state ranked well in a few of those key factors, including highest average growth in number of small businesses (1st), most accessible financing (1st), average length of work week in hours (2nd), industry variety (2nd), and access to resources (5th).

Following North Dakota in the overall ranks are Texas, Utah, Oklahoma, and Nebraska finishing 2nd through 5th, respectively to round out the top five.

The bottom five are Hawaii, Rhode Island, Maryland, New Hampshire, and New Jersey coming in at number 50.

Based on these rankings, it seems that the entrepreneurial spirit is very much alive and well in the Peace Garden State.

The full rankings can be seen in the map below.

Source: WalletHub

More From Cool 98.7 FM