WalletHub’s annual survey gives valuable insight into where to set up shop.
May 6, 2019 2 min read
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:
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Orlando, FL
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Oklahoma City, OK
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Miami, FL
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Austin, TX
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Tampa, FL
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Charlotte, NC
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Durham, NC
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Raleigh, NC
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Atlanta, GA
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Denver, CO
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Fort Worth, TX
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Jacksonville, FL
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Houston, TX
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St. Petersburg, FL
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Dallas, TX
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San Antonio, TX
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Irving, TX
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Laredo, TX
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Oakland, CA
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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.
Related: Before You Launch Your Business, Make Sure You Have a Safety Net. Here are 13.
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.
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This article is from Entrepreneur.com
