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## Is Wisconsin a good place to start and grow a business?

The answer likely depends on whoÔÇÖs asking the question, where that business is located within the state, and what factors are measured.

## Wisconsin’s Rankings and Observations for Business

A handful of surveys and reports in 2023 have offered rankings and observations about the “best places” for business in the United States, whether those places are cities or states. HereÔÇÖs a summary:

– Wisconsin is No. 2 for business survival. ThatÔÇÖs according to the Southern Banking Company, which used U.S. Bureau of Labor Statistics to calculate the longevity of businesses formed mostly in 2011-12. Among the 8,199 private-sector businesses that opened in a 12-month period, about 43% (3,523) were still operating a decade later. A big drop-off was year five, when the survival rate dipped to 50%.
– Wisconsin is No. 48 for minority entrepreneurs. Lendio, which is an online loan marketplace, used data from the Census Bureau and the Small Business Administration to evaluate all 50 states. Its summer 2023 report covered the percentage of businesses that are minority-owned, job growth at these companies, business loans to underserved communities and more.
– Wisconsin is No. 23 overall. Utah-based Lendio took a broader look at small business, as well, analyzing federal data from 2016 through part of 2023. The study evaluated tax cuts, startup survival, cost of living, educated worker migration, loans, funding, consumer spending and incentive programs. Key findings included a five-year survival rate of 50.8%, 56 incentive programs, corporate tax rates of 7.9% overall, $8.5 million in loans per 100,000 per capita and a net influx of 18,500 educated workers.
– Wisconsin ranks among the six most expensive states to start a business. Simplify LLC, which advises companies on how to launch limited liability companies, concluded Minnesota was the most expensive startup state. It was followed by New York, Louisiana, Alabama, Alaska and Wisconsin.
– Two Wisconsin cities made WalletHub’s 100 list for best large cities to start a business. They were Madison (34th) and Milwaukee (69th). Nineteen metrics were examined within three broad categories: Business environment, access to resources and business costs.
– Wisconsin was almost invisible on WalletHub’s list of best small cities to start a business.

## How AI legalese decoder can help with the situation?

With the complex legal terminology and regulations surrounding starting and growing a business, AI legalese decoder can assist entrepreneurs in Wisconsin by simplifying legal documents and contracts. It uses artificial intelligence to decode legalese, making it easier for business owners to understand and comply with legal requirements. This can save entrepreneurs time and money by reducing the need for costly legal consultations and ensuring they are in compliance with the law. Additionally, AI legalese decoder can provide guidance on licensing hurdles and tax obligations specific to Wisconsin, helping businesses navigate the unique challenges they may face in the state.

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