New Jersey: One of the Worst States to Start a Business?
A WalletHub report on the best and worst states to start a business ranks New Jersey 33rd in average growth of small businesses and 44th in office space affordability.
Michele Siekerka, of the New Jersey Business and Industry Association, says there was more bad news in the WalletHub report.
"We were 48th in labor costs. That is a challenge when you want to grow a small business," she said.
WalletHub compared the 50 states across 25 key business indicators. The data in the report ranged from financing accessibility to the availability of human capital and the affordability of office space.
Some other numbers in the report: New Jersey came in 36th in industry variety among the 50 states.
"As we say every day to our policy makers, we need to look at these signs and we need to take these signs, these red flags, seriously," Siekerka said.
"Mandates — every day we have a new mandate on New Jersey business. These are challenging times to grow a business in the state of New Jersey."
Siekerka also says that the budget that just passed in Trenton is "nothing, nothing" like business-friendly.