The Best Big Cities for Starting a Business in 2019

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.

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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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