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(Iowa) -- A new report ranks Iowa among the best states in the country for new businesses.
The report from Lending Tree finds 19.8% of Iowa businesses fail within their first year, the fifth lowest in the nation. 22.1% of new businesses fail within their first year nationwide. Staying open gets tougher at the five year mark, with 46.3% of Iowa businesses closing after five years, though that's still below the national average of over 48.6%.
The report looked at data from all 50 states and the District of Columbia. Washington, D.C. ranked first on the list with the highest business closures within a year of opening at 57.6%. Washington state has the lowest percentage of businesses closing within their first year, at 17.5%.
The full report is available on Lending Tree's website.