WalletHub has released a list of the best large US cities to start a business, and Florida cities are dominating the rankings. Orlando has claimed the number one spot, with researchers noting that the city has seen a rapid growth in small businesses and boasts a high survival rate for startups.
Miami also made it to the top five, securing the fifth spot on the list. The city is praised for its favorable business environment, including factors like average work week length, growth in the number of small businesses, startups per capita, average growth of business revenues, and job growth.
Other Florida cities that ranked high on the list include Tampa, Jacksonville, and Hialeah, which came in at second, fourth, and seventeenth place, respectively. These cities also scored well in the business environment category, showcasing the state’s overall appeal for entrepreneurs.
The rankings were determined by comparing 19 key metrics in 100 US cities, such as the five-year business survival rate, labor costs, and office-space affordability. The full report and analysis can be found on WalletHub’s website, providing valuable insights for aspiring entrepreneurs looking to start a business in a thriving city. With Florida cities leading the way, it’s clear that the Sunshine State is a hotspot for entrepreneurial success.