Best Cities to Start a Business are in Florida: New Study
Between the COVID-19 pandemic, the Great Resignation, and the rise in inflation, it is safe to say that the past few years have been some of the toughest ever for business owners across the country.
But if you’re an aspiring entrepreneur in Florida, one new study ranked four cities in the Sunshine State as the best large cities to start a business in the U.S.
In order to help aspiring entrepreneurs maximize their chances for long-term success, WalletHub compared the relative startup opportunities that exist in 100 large cities across the country.
Here are the 10 best large cities to start a business, according to WalletHub:
- Orlando, FL
- Jacksonville, FL
- Miami, FL
- Tampa, FL
- Durham, NC
- Boise, ID
- Atlanta, GA
- Charlotte, NC
- Fort Worth, TX
- Austin, TX
The study used 19 key metrics, ranging from the five-year business-survival rate to labor costs to office space affordability.
Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for startups. The study then determined each city’s weighted average across all metrics to calculate its overall score.
In addition to being the overall best city to open a business, the study also found that Orlando has the third-highest average growth in the number of small businesses, but the lowest availability of human capital.
So whether or not you are in the market to open a new business, look no further than the Sunshine State for your next venture.
Source: Best Cities to Start a Business are in Florida: New Study