2017’s Best & Worst Small Cities to Start a Business
From Wallet Hub, Apr 17, 2017
Size matters when choosing a city in which to launch a startup. As many veteran entrepreneurs — and failed startups — understand well, bigger is not always better. A city with a smaller population can offer a greater chance of success, depending on an entrepreneur’s type of business and personal preferences.
Every small city offers unique advantages and disadvantages to prospective ventures. Lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond are among the benefits. But the drawbacks come plenty as well. For one, entrepreneurs seeking to cultivate a large professional network aren’t likely to fill their roster in a town with fewer residents. Other restrictions might include limited industry options, a less diverse customer base, and difficulty attracting and retaining top talent.
WalletHub’s analysts therefore compared the business-friendliness of 1,261 small-sized cities to determine the best overall for launching an enterprise. Their data set of 16 key metrics ranges from average growth in number of small businesses to investor access to labor costs.
read … Full Article
||'Business Environment' Rank
||'Access to Resources' Rank
||'Business Costs' Rank
||Pearl City, HI