The Best Big Cities for Starting a Business in 2019
With May 5 kicking off National Small Business Week and half of Americans working for small businesses, the personal-finance website WalletHub today released its report on 2019’s Best Large Cities to Start a Business as well as accompanying videos.
In order to help aspiring entrepreneurs maximize their chances for long-term prosperity, WalletHub compared 100 U.S. cities across 19 key indicators of startup viability. The data set ranges from five-year business-survival rate to office-space affordability.
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| Best Large Cities to Start a Business | ||||
| 1 | Orlando, FL | 11 | Fort Worth, TX | |
| 2 | Oklahoma City, OK | 12 | Jacksonville, FL | |
| 3 | Miami, FL | 13 | Houston, TX | |
| 4 | Austin, TX | 14 | St. Petersburg, FL | |
| 5 | Tampa, FL | 15 | Dallas, TX | |
| 6 | Charlotte, NC | 16 | San Antonio, TX | |
| 7 | Durham, NC | 17 | Irving, TX | |
| 8 | Raleigh, NC | 18 | Laredo, TX | |
| 9 | Atlanta, GA | 19 | Oakland, CA | |
| 10 | Denver, CO | 20 | Irvine, CA | |
Best vs. Worst
- Toledo, Ohio, has the lowest average annual rent for office space, $11.93 per square foot, which is 6.7 times cheaper than in San Francisco, the city with the highest at $80.22 per square foot.
- Detroit has the lowest labor costs (median annual income), $27,838, which is 4.4 times lower than in Fremont, California, the city with the highest at $122,191.
- Laredo, Texas, has the lowest cost-of-living index, 77, which is 2.5 times lower than in San Francisco, the city with the highest at 196.
- Miami, Florida, has the most startups per 100,000 residents, 234.72, which is 3.2 times more than in Winston-Salem, North Carolina, the city with the fewest at 74.40.
To view the full report and your city’s rank, please visit:
https://wallethub.com/edu/best-cities-to-start-a-business/2281/
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