September 27, 2022

2019's Best Large Cities to Start a Business

| 5/6/2019

Personal-finance website WalletHub has released its report on 2019’s Best Large Cities to Start a Business.

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: 
https://wallethub.com/edu/best-cities-to-start-a-business/2281/  

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