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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

Faith Based Events
  • 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.
[vc_btn title=”Check out the complete list of cities” style=”outline” color=”primary” size=”lg” align=”left” link=”url:https%3A%2F%2Fwallethub.com%2Fedu%2Fbest-small-cities-to-start-a-business%2F20180%2F|title:Check%20out%20the%20complete%20list%20of%20cities|target:%20_blank”][vc_message message_box_style=”3d” message_box_color=”turquoise”]By Richie Bernardo in a WalletHub News Release for SouthFloridaReporter.com, April 21, 2016 [/vc_message]

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