INDIANAPOLIS (WISH) — Indiana is one of the top two states when it comes to starting a business, a survey says, and the Indiana Chamber of Commerce attributes the resources for businesses and a favorable business and legal climate in the state.

This ranking comes from a new Forbes survey that averaged out five metrics across all 50 states.

The five categories were business costs, business climate, financial accessibility, economy, and workforce.

Adam Berry, the vice president of economic development for Indiana Chamber, said the organization and others have worked over the last 20-plus years to create the existing business climate. “Taking a multipronged approach to creating an environment that cultivates business has resulted in Indiana’s top-two ranking.”

Indiana was only closely beaten out by North Dakota in the overall rankings but had a lower business formation fee and cost of living than North Dakota.

“Indiana has been very diligent about keeping those startup fees low,” Berry said.

Indiana has a top business survival rate of 77%.

“Indiana currently ranks in the bottom ten of actual startups that get launched every year, but we rank in the top five in terms of business survivability rate,” Berry said. “Once an individual decides to take that leap, Indiana has done a good job of making sure resources are available.”

Another positive in Indiana is the workforce, he says. Forbes noted that 64% of people are of working age. “Having a high population at a working age, that is also great for employers because with workforce shortages everywhere, the longer people work the more options employers have, entrepreneurs have for who they can hire,” Berry said.

The Indiana Chamber said there is a significant amount of funding for Indiana businesses; the survey notes on average it is more than $24,500.

The lower cost of living in Indiana is especially beneficial to small businesses with limited capital and when it comes to recruiting employees.