Ooma’s new study gives crucial insight into small business ownership with a map and analysis comparing average yearly salaries in every state and Washington, D.C. The study offers key insights into the world of entrepreneurship today. They used data from ZipRecruiter to create a map that systematically compares wages across the country. The team also shows that the national average annual wage across industries is $66,621, providing invaluable context for the listed salaries.

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The maps contain geographic insight into earning potential. We see Washington state in the lead with small business owners earning an impressive $144,941 a year on average. That’s an incredible 127.2% higher than the national average salaries. The team points out that the Pacific Northwest is a small business hotspot for a reason. Seattle and the Puget Sound area are hubs for innovation and technology, supported by helpful infrastructure for small businesses, plentiful coworking space, and fresh talent setting out on their own after building experience with huge companies like Google, Microsoft, and Amazon. These factors have created an environment where small businesses can not only survive but thrive thanks to low business taxes and a talented pool of entrepreneurs and employees.

The data shows that 15 states and Washington, D.C., have earning averages that are double the national average. Washington, D.C., came in second place for small business owner wages at $144,612. It’s another technology hub that enjoys the benefits of being the nation’s capital, with access to government incentives and programs that can help entrepreneurs get their ideas off the ground.

The team’s analysis didn’t look away from more challenging regions. Florida had the lowest annual salary at $95,633 a year, though, as we can see, small business owners in Florida still earn more than the national wage average. Florida is a competitive market driven by tourism, yet small business ownership is still a lucrative option here. Ooma explains that Florida business owners do face unique challenges, like a tourism market that ebbs and flows with economic changes, fewer benefits for business owners, and a high concentration of small businesses.

Apart from the pure data, we can find lots of interesting context that helps us understand regional business climates. Cost of living and market dynamics influence how much entrepreneurs can earn, and we can see facts like this visualized in the colorful map the team created. Data that could be complex becomes easy to digest and quick to reference.

Ooma did an excellent job transforming data into geographic insights that can offer people practical small business guidance. Aspiring entrepreneurs can use the data here to launch a new idea, relocate or expand successfully, while industry observers can learn new things about the small business climate. Rigorous data, practical insights, and smooth visuals combine to create an enjoyable and practical presentation of small business owner wage data.

With the high cost of college tuition making headlines, choosing a college major wisely becomes a crucial financial decision. Student Choice has analyzed college majors by their return on investment (ROI) and created a graph that ranks degrees by their ROI. Passion is certainly an important factor in choosing a college major, but knowing the ROI of a major helps prospective students plan for their future and understand their future financial prospects. This graph is a powerful tool for navigating a competitive job market.

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We can see STEM dominating the results, with an Engineering degree claiming the highest ROI at 326.6%. Computer Science earns second place with a 310.3% ROI, and Nursing has a 280.9% ROI. Student Choice gathered its data from the Bureau of Labor Statistics and compared five-year earnings to the cost of four years of college tuition. Unfortunately, Liberal Arts subjects are at the bottom of the list, although they still show a positive ROI. Education majors have a 169.8% ROI and Fine Arts have the lowest ROI at 163.3%.

The team also provided data on individual professions for which these majors qualify. The highest-paid engineers appear to be Aerospace engineers, with a whopping 427% ROI on their engineering degrees. Computer and IT Systems Managers with a degree in Computer Science have an even greater ROI, at 553.7%. Although Liberal Arts degrees have the lowest ROIs, there are still significant opportunities available in specific arts-related professions. For example, marketing managers can achieve a 511.4% ROI and earn degrees in Liberal Arts, Fine Arts, or Graphic Design to qualify. Art Directors show strong earning potential within the creative sector, with a 347.9% ROI.

Some might look at this data and conclude that they can aim for some of these careers without a four-year degree. Others might research how much more they would earn in the career path with a four-year degree. Many employers are willing to pay higher salaries to employees with higher levels of education. Some sectors offer student loan forgiveness options, which can help maximize ROI. There’s a public education loan forgiveness program that forgives student loans for teachers who work in low-income school districts for a certain length of time. Borrowers may find more flexible loan solutions from credit unions compared to federal loan systems as well. Data like this is key to helping prospective students plan for the future and achieve the best ROI.

While the data is useful and well-presented, all prospective students should consider several angles when making an important decision, like which major to declare. In addition to ROI, consider your personal instincts, financial circumstances, skills, and potential career satisfaction. While financial security is important and a strong ROI will help you secure it, job satisfaction is an important aspect of future happiness. Even so, Student Choice’s work here can help all prospective students plan for their financial future.

There are many kinds of entrepreneurs in the U.S., from family-owned restaurants to tech startups. The team at Ooma studied data on the ages of business owners in every state, then mapped out the results to identify any regional patterns. As we can see from the map, business ownership aspirations aren’t limited to a certain age. The team used data from the U.S. Census Bureau to create their map and examined major metropolitan areas to determine where the oldest and youngest business owners reside.

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The youngest business owners live in Provo-Orem-Lehi, Utah, where the average age of a business owner is a bit below 49. This is lower than the national average by about a decade. Overall, many young entrepreneurs live in Utah. This could be due to the low cost of living and a family-focused culture with plenty of support for younger business owners. Utah’s economic boom surely helps these businesses get off the ground.

These ten cities have the youngest business owners in the country:

• Provo-Orem-Lehi, Utah
• Bozeman, Montana
• Fargo, North Dakota-Minnesota
• Logan, Utah-Idaho
• Ogden, Utah
• George, Utah
• Salt Lake City-Murray, Utah
• Boise City-Idaho
• Lancaster, Pennsylvania
• Kennewick-Richland, Washington

Utah certainly claimed many spots on this list, but we also see that the Rockies and Upper Midwest support a lot of young business owners. University towns and low living costs all help support younger people in gathering the resources to start their own business.

Moving on to the cities with the oldest business owners, we find that Santa Fe, New Mexico, has the oldest business owners, with an average age of around 59 years. Many of the cities topping this list are located in retirement-friendly areas with slower population growth and higher cost of living. This suggests these are more difficult locations to start a small business in, requiring owners to have more resources and experience to get started.

These ten cities have the oldest business owners:

• Santa Fe, New Mexico
• Napa, California
• Monroe, Louisiana
• Kingston, New York
• Urban Honolulu, Hawaii
• Youngstown-Warren, Ohio
• Bridgeport-Stamford-Danbury, Connecticut
• Scranton-Wilkes-Barre, Pennsylvania
• Hilton Head Island-Bluffton-Port Royal, South Carolina
• Trenton-Princeton, New Jersey

According to the national data the team collected, most business owners are in their late 40s to early 50s. This might surprise some people, as the media often reports on bright young entrepreneurs founding exciting tech startups. However, consider that there are many different types of small businesses in America. In most cases, starting a successful business requires resources, time, and connections that can only be acquired through age and experience. In general, the spread of ages isn’t very large, so it seems the team has pinpointed the ideal age to start up a business.

This map can provide valuable insights into the American economy, both by region and as a whole. While the team identified some regional patterns in entrepreneurship, it appears that entrepreneurs across the nation share many commonalities.