It is clear that businesses are important to the Latino community for those who are already established as well as for the newcomers. It is very important to know which state offers good opportunities to this community and which ones do not, in order to invest successfully.
The 10 Worst States to Do Business
- New Jersey, it is extremely expensive to do business (population: 8,947,700)
- Vermont, doing business is very expensive and there are many regulations (population: 626.500)
- Hawaii is a good state to live in, but not to do business (population: 1,424,900)
- Alaska, a very expensive state (population: 738,000)
- Rhode Island, quality of life is great, doing business is not (population: 1,056,900)
- New Mexico is the state with the highest percentage of Hispanics (population: 2,085,300)
- Maine stands out for its quality of life (population: 1,331,600)
- Mississippi (population: 2,995,700)
- West Virginia, the worst state in terms of labor supply and regulations (population: 1,844,900).
Before starting a business…
American citizens and legal permanent residents may have access to grants for businesses, both on the federal or state level and on a local level.
It is important to learn about possible aid for loans, grants, and local assistance programs.