If you’re planning to set up a business and be a boss, it’s probably best to know the most supportive city in the U.S. for a startup company.
WalletHub.com listed Oklahoma City in Oklahoma as the top big city in the country for aspiring business owners. It analyzed 150 cities in the country based on 18 metrics, including business environment, access to resources, and costs.
Most people will immediately agree to the idea of owning a business and say goodbye to the salaried life for good. The Bureau of Labor Statistics said that around 10% of the U.S. workforce comprise business owners.
It might be tempting to join the statistics, yet it’s important to know how your place of residence and the local economy will make or break your entrepreneurial dream. Oklahoma City ranked at the top spot partly because the odds of maintaining a new business within five years is high.
In addition, access to financing such as a business startup loan and investors in Oklahoma City also scored high on WalletHub’s analysis.
Salt Lake City ranked as the second best place to create your own business. Aside from Oklahoma City, Tulsa also joined the top five best cities. For those living in Oklahoma, it’s good to know that state residents have more than one choice of location.
The City of Port St. Lucie in Florida mainly landed on the 14th spot not only because of its high scores but also because of its good housing market. Overall, big cities in the Midwest and the South provide you with the several good options for your startup enterprise.
The place for your first business should rank high on your list, but you shouldn’t just rely on that. Do your research on what drives the market for your chosen enterprise. By doing so, you won’t regret leaving your old desk job.