With National Small Business Week approaching and over 50% of the U.S. population working for a small business, the personal-finance website WalletHub today released its report on 2019’s Best Small Cities to Start a Business as well as accompanying videos, along with its 2019 Small Business Owner Survey.
To determine the most business-friendly small markets in the U.S., WalletHub compared more than 1,200 cities with fewer than 100,000 residents across 18 key metrics. The data set ranges from small business growth rates and accessibility of financing to investor access and labor costs.
Top 20 Small Cities to Start a Business
| 1 | Holland, MI | 11 | Dania Beach, FL |
| 2 | St. George, UT | 12 | Carbondale, IL |
| 3 | Fort Myers, FL | 13 | Minot, ND |
| 4 | Redmond, OR | 14 | Boca Raton, FL |
| T-5 | Cheyenne, WY | 15 | Deerfield Beach, FL |
| T-5 | Huntsville, TX | 16 | Salisbury, NC |
| 7 | Bozeman, MT | 17 | Kearney, NE |
| 8 | Aberdeen, SD | 18 | Clearfield, UT |
| 9 | Bend, OR | 19 | Cedar City, UT |
| 10 | Wilson, NC | 20 | Springville, UT |
Key Stats – Small Business Owner Survey
- 24% of business owners say National Small Business Week helps their business. Business owners age 18-29 are 8 times more likely than business owners age 59+ to say that National Small Business Week helps them.
- More than 7 in 10 small business owners say now is a good time for businesses to grow.
- 23% of business owners say companies will use savings from President Trump’s tax changes mainly for executive and investor bonuses. 12% believe it will go to employee compensation.
- 84% of small business owners think the user protections on business credit cards should be at least as good as those on personal cards (business cards currently lack a number of key safeguards).
To view the full report and your city’s rank, please visit:
https://wallethub.com/edu/best-small-cities-to-start-a-business/20180/