DALLAS (KDAF) — A new year can bring many new things, but the idea of new business opportunities can run wild, so, where are the best places in the country to put these ideas to the test?

A study conducted by WalletHub took to the data to declare 2023’s best and worst states to start a business in 2023, and the Lone Star State received high honors.

“Choosing the right state for a business is therefore crucial to its success. A state that provides the ideal conditions for business creation — access to cash, skilled workers and affordable office space, for instance — can help new ventures not only take off but also thrive,” the study said.

Texas came in at the No. 3 spot in the rankings with a score of 56.85 behind Utah (59.91) and Florida (59.21). It ranked No. 3 when it comes to the business environment, No. 12 in access to resources, and No. 31 for business costs.

Source: WalletHub