NATIONWIDE, (WOWO) — Federal statistics show that nearly one in five new small businesses don’t survive the first year – and nearly half won’t make it to their fifth anniversary.

Challenges from inflation, taxes, and labor shortages to excessive regulation are all headwinds for businesses regardless of age.

A recent Wallet Hub study shows that Florida is the best place to start a new business and Rhode Island is the worst.

Indiana ranked number 19 on the list. Ohio was number 26.

The study ranked states based upon business environment, access to resources, and overall business costs.