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.
|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: