<ul data-eligibleForWebStory="false">A study conducted by CNBC ranks all 50 states from best to worst for starting a business in 2025.North Carolina secured the top spot in the rankings based on metrics like economy, infrastructure, and business friendliness.Alaska was identified as the worst state for business, with Hawaii, Montana, and Rhode Island also ranking poorly.California and New York, despite their large populations, placed in the middle of the rankings at No. 22 and No. 23 respectively.