The past few years have posed significant challenges to business owners in the US, with factors such as the COVID-19 pandemic and high inflation affecting operations. To help aspiring entrepreneurs navigate these challenges, WalletHub has identified the best large US cities to start a business.
WalletHub evaluated the startup opportunities available in 100 US cities using 19 key metrics such as the five-year business-survival rate, labor costs, and office-space affordability. Orlando ranked at the top of the list due to its rapid growth of small businesses and high rating on the Kauffman Early-Stage Entrepreneurship Index, which indicates a high survival rate for startups.
South Florida cities like Miami and Hialeah also received favorable rankings, with Miami coming in fifth place. Criteria such as average work week length, growth in the number of small businesses, and job growth contributed to these rankings. Hialeah, Tampa, and Jacksonville also performed well in the business environment category, with Tampa securing second place overall and Jacksonville taking fourth place.
For detailed rankings and analysis visit WalletHub’s website for more information.
