Top 10 small business friendly cities
If you’ve got entrepreneurial dreams, you’re not alone.
A UPS Store Inside Small Business Survey found that 66% of respondents dream of opening a small business. About half said this is the year they will make it happen, and Gen Xers are leading the charge.
The driving force fueling this optimism include the allure of being their own boss (38%), believing in their ideas (17%) and wanting to create their next career path (15%). Of those planning to open a small business, 56% are looking into home-based operations, 30% think brick-and-mortar is the way to go, and 20% have plans to launch e-commerce sites.
Fear is still holding back even the most optimistic entrepreneurs. Financial security, upfront start-up costs and fear of failure are the top three concerns.
According to the Small Business Administration, those concerns are valid. About half of all small businesses don’t even make it five years, the SBA says.
Want to increase your odds of success? Where you live might make a difference. GoBankingRates.com compiled a list of the friendliest cities for small business owners. The analysis included the rate of new entrepreneurs, startup density, the cost of living, projected job growth for the area and other factors.
Here are the top 10.
- Austin, Texas
Startup density: 104.5 startups for every 1,000 businesses - Miami
Startup density: 107.8 startups for every 1,000 businesses - Dallas
Startup density: 94.2 startups for every 1,000 businesses - Los Angeles
Startup density: 92.3 startups for every 1,000 businesses - San Diego
Startup density: 95.9 startups for every 1,000 businesses - Denver
Startup density: 92.3 startups for every 1,000 businesses - Kansas City, Mo.
Startup density: 83.6 startups for every 1,000 businesses - New York
Startup density: 86.5 startups for every 1,000 businesses - San Antonio
Startup density: 87.2 startups for every 1,000 businesses - Portland, Ore.
Startup density: 82.8 startups for every 1,000 businesses
