Home News Many South Florida Cities Among Best Small Cities To Start A Business

Many South Florida Cities Among Best Small Cities To Start A Business

Woman holding an open sign at a grocery store (WalletHub)

With National Small Business Week just two weeks away, the personal finance website WalletHub conducted an in-depth analysis of 2016’s Best Small Cities to Start a Business.

To identify the most business-friendly small markets in which to launch a new venture, WalletHub’s analysts compared 1,268 small-sized cities across 15 key metrics. Our data set ranges from “average growth in number of small businesses” and “prevalence of investors” to “office-space affordability” and “corporate taxes.”

 

Top 20 Best Small Cities to Start a Business
1 Holland, MI 11 Enid, OK
2 North Chicago, IL 12 Wilson, NC
3 Brighton, NY 13 Irondequoit, NY
4 Jefferson City, MO 14 East Chicago, IN
5 La Vergne, TN 15 Deer Park, TX
6 Inver Grove Heights, MN 16 Midvale, UT
7 Clearfield, UT 17 Chesterfield, MO
8 Dothan, AL 18 Riviera Beach, FL
9 Cheyenne, WY 19 Maryland Heights, MO
10 Deerfield Beach, FL 20 Rapid City, SD

Comparing the Best & Worst

  • Miami Beach, Fla., has the highest number of startups per 100,000 residents, 246, which is seven times higher than in Salisbury, Md., the city with the lowest, 35. [Note: Davie, Plantation, Sunrise and Boca Raton all tied for highest number of startups per capita]
  • Santa Paula, Calif., has the highest industry variety, which is four times higher than in Suisun City, Calif., the city with the lowest.
  • Bethesda, Md., has the highest percentage of the population with at least a bachelor’s degree, 82.2 percent, which is 22 times higher than in Soledad, Calif., and Wasco, Calif., the cities with the lowest, 3.7 percent.
  • Mountain View, Calif., has the least affordable office spaces, with a price of $65.87 per sq. ft. per year, which is eight times higher than in Dothan, Ala., and Kentwood, Mich., the cities with the lowest price, $8.76 per sq. ft. per year.
  • Carbondale, Ill., has the lowest labor costs, $17,677, which is 11 times lower than in McLean, Va., the city with the highest, $188,639.
  • Weslaco, Texas, has the lowest cost-of-living index, which is six times lower than in Beverly Hills, Calif., the city with the highest.
  • East Lansing, Mich., has the shortest average work week, 28 hours, which is two times shorter than in Fort Hood, Texas, the city with the longest, 50 hours.

By Richie Bernardo in a WalletHub News Release for SouthFloridaReporter.com, April 21, 2016 

WalletHub is the first-ever website to offer free credit scores and full credit reports that are updated on a daily basis. But we consider that just an appetizer, as we’ve built the brain of an artificially intelligent financial advisor that will truly leave your wallet full. WalletHub’s brain performs three primary functions, providing: 1) Customized credit-improvement advice; 2) Personalized savings alerts; and 3) 24/7 wallet surveillance. Such features are supplemented by more reviews of financial products, professionals and companies than any other website offers and a diverse community of subject matter experts. WalletHub is owned by Evolution Finance, Inc. and is based in Washington, DC.

LEAVE A REPLY

Please enter your comment!
Please enter your name here