These Are the 20 Best Cities to Start a Business
You can start a business just about anywhere, but some locations might lend themselves better to your company’s long-term prospects. Personal finance website WalletHub looked at 100 cities in the U.S. and compared them based on three different categories: business environment, access to resources and business costs.
The top 20 top cities are:
-
Orlando, FL
-
Oklahoma City, OK
-
Miami, FL
-
Austin, TX
-
Tampa, FL
-
Charlotte, NC
-
Durham, NC
-
Raleigh, NC
-
Atlanta, GA
-
Denver, CO
-
Fort Worth, TX
-
Jacksonville, FL
-
Houston, TX
-
St. Petersburg, FL
-
Dallas, TX
-
San Antonio, TX
-
Irving, TX
-
Laredo, TX
-
Oakland, CA
-
Irvine, CA
The survey found that number three on the list, Miami, Florida, is home to the most startups per 100,000 residents at 234.72, which is 3.2 times more than in Winston-Salem, North Carolina, which is the city with the fewest at 74.40 per 100,000 residents.
If cost of living is a top concern, you might consider number 18 on the list, Laredo, Texas, which has the lowest cost-of-living index according to the study. It’s probably not a surprise that tech hub San Francisco has the highest cost-of-living index.
San Francisco has the highest annual rent for office space at $80.22 per square foot, while Toledo, Ohio, has the lowest annual average rent at $11.93 per square foot.
Lincoln, Nebraska, has the most accessible financing while San Bernardino, California, has the least. Detroit, Michigan, has the lowest labor costs with a median annual income of $27,838, which is 4.4 times lower than in Fremont, California, which has the highest labor costs with a median annual income of $122,191.
Source: ENTREPRENEUR - Nina Zipkin published on May 6, 2019.