NDIANAPOLIS — British merchant services firm Paymentsense has released its list of the best states to start a business. Indiana ranked 8th nationwide and first in the Midwest.

The firm found that Indiana has a 53.7 percent five-year business survival rate, and received an overall score of 4.8 out of ten.

The list was compiled following a review of data for population, average income, average personal expenditure and five-year business survival rate.

To view the full list, click here.