In its latest study, WalletHub compared the relative startup opportunities that exist in 100 U.S. cities and released its list of the best large cities to start a business. In creating the list, they used 21 key metrics, ranging from the five-year business survival rate to COVID-19 cases to office-space affordability.
missing or outdated ad configThe number one place to start a business is Laredo, Texas followed by Durham, NC and coming in at number 19 is Nashville, TN.
Other findings in the study:
- 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), $30,894, which is 4.3 times lower than in Fremont, California, the city with the highest at $133,354.
- Laredo, Texas, has the lowest cost-of-living index, 79.00, which is 2.5 times lower than in Honolulu, the city with the highest at 198.60.
See the list below.
| Best Large Cities to Start a Business | |
| 1. Laredo, TX | 11. Atlanta, GA |
| 2. Durham, NC | 12. St. Petersburg, FL |
| 3. Lubbock, TX | 13. Reno, NV |
| 4. Orlando, FL | 14. Dallas, TX |
| 5. Boise, ID | 15. Winston-Salem, NC |
| 6. Charlotte, NC | 16. Colorado Springs, CO |
| 7. Raleigh, NC | 17. Jacksonville, FL |
| 8. Austin, TX | 18. Kansas City, MO |
| 9. Fort Worth, TX | 19. Nashville, TN |
| 10. Tampa, FL | 20. Irvine, CA |
